Minor Resistance

Right here is minor resistance and although I think we get throuhg it for more upside I would be taking some profits from the monster moves in DIA, FSLR and BIDU which was noted sunday. I am almost in my setup for some shorts and will soon be positioning myself more than likely after option expiration tomorrow.

Paulson and Bernanke both talking at 10:00 so be careful

Thursday's plan

The bulls seemed to have returned to the markets at least temporarily as Wednesday posted our third straight session of gains, albeit small gains. Wednesday’s day got catapulted by a decent round of earnings and a gap up at the opening bell. After a quick gap fade move, the markets rallied for the rest of the day and closed at the highs.

Now for the bad news. The recent push up still resembles bear-flag like consolidations, so I would still be prepared for a move lower shortly and a possible test of the January lows. In fact, I might look for some weakness today . A gap up would be an inviting fade opportunity or an early rally could spark an afternoon reversal move, so watch for those setups.

Can we say BIDU!!!

BIDU IS UP $30 after hours on beating earnings. Wasn't that an awesome play from sunday's call on it- almost $70 gain in 4 days totally awesome.
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New HIghs

New Highs for the day. Extremely nice move with Nasdaq showing relative strength. Whether it is the signing of the stimulus package or just option expiration this move seem to have a little energy in it.

Nice move

Well seem to have hit it on the head. Market getting it bounce this week. The DOW is up 138 for the day with some of the financials and techs showing relative strength. BIDU is up beautiful off the recommendation Sunday. We can still more higher in my opinion and I am looking for such a move. Lets see how far we go.

When we hit some resistance I will be playing the QID's just as a heads up.

Wednesday

More upside should be in the cards today but early strength should be shorted. The nasdaq seem to be forming out a bear flag which put me in caution mode especially if we do gap up and see a fill of the gap.

UPSIDE

Well here is what is was saying. The upside move I was expecting happened this morning. It is just one hour into todays trading but I can definitely see the uptrend coming in with us being +180 points on the DOW. BIDU ANOTHER $10 and FSLR ANOTHER $5. Lets see where we finish today but I definitely think we get over that 12500 area this week