Thoughts

I think we make one more new highs here before we head below 800 again on the S&P. Maybe tomorrow or Monday we make a marginal high and send us to 850 area which I think is the top of this current range.
If you are long I would be lightening up right here and now.

MARKETJEDI

TRADE CALL: SRS LONG

Taking a stab here tomorrow on SRS long.
I will play the stock straight out but the April $48 calls (SRS DV) don't look that bad.

We will see how that works out

Another problem

Another problem for the bulls here is the very weak volume. We constantly get divergences on the upside everyday but we continue to grind up on lower volume. This is very hard to decipher but I am thinking the bears want higher prices so they can short easy and secondly the BS news out of treasury etc is making weak hands buy.
Now I must say this here and now I do expect us to make it to 1000 on the S&P this year but between 1000-1080 will be the top just not on this go.
Take that for what is is worth, you all know I think we will see DOW 5000 before all is said and done

Folks

I am getting alot of emails about what the market is doing. Guys this is very unusual times, market is edgy and basically moving on political news and decisions. For example we are up today on mark to market, G20 and nothing about technicals of companies or the market. All you can do is stay out or just see a set up and take it with your necessary risk rewards.
I have been trading for years and this is by far the most difficult environment I have ever seen. You will see many analyst and managers come on and say the same thing because honestly it is.
The good thing is this wont last much longer, so just relax and regroup. As I would say the markets aren't closing tomorrow forever there will be tons of other opportunities.


I have one good description of this market- PINBALL MACHINE :)


MARKETJEDI

New guidance for Mark to Market

So another scam to prop up the market. I want to puke really do, this is just crazy they trying to save the banks at all cost at our expense.

When will the madness stop.