Mid week Madness

Seem we are in March madness in the markets . Today was a extremely tough day to trade if you are a trader. We gapped up and trended higher but failed to materialize the bullish sparks at the end of day due to a sell off.
Although it was a positive day behind the scenes the failure to move us beyond the gap fill left from Friday has us on a cautious note again. This is the fourth day in a row we have sold of dramatically into the close and this must be frustrating for the bulls.
For you metal folks Gold and Silver looks lower. Cramer as usual is the kiss of death as he called a long on Gold when it was 970. I would not play the metals long for more than a trade short to medium term. I would not be surprised if we hit sub 800 on Gold in the near term but we will see soon enough.
Our shorts are rocking here STT, PALM, WFC are just ATM machines right here.
As for the Short List FOR 2009, we have some huge winners so far on our list. With 2 months into the year the list is positive and obviously outperforming the market.
Friday is job numbers so we might be on pause tomorrow as traders await the report, so I would not expect much tomorrow but who knows in this crazy market.

March folks we will find a near term bottom so stay sharp!!!!

Market

Market is rallying here but I am staying with the shorts on the blog, STT, WFC and PALM. They are up a gazillion in profits especially WFC.

Ride those suckers

ONLY WINNERS

Trade Call :PALM

We have an open short on PALM. They just reported earnings and it is terrible but the stock is halted. I am hoping it get crushed so we can take a nice profits from it.

ONLY WINNERS!!!!!!!!!!!!!!

Levels

Look for us to test 682/685 level tomorrow and maybe bounce. They are trying there best but that level is definitely an area they want before they head higher.
Scary thing here is that this sell off has no panic in it, NOT A GOOD SIGN!!

GE?????

I wonder if GE is in some kind of trouble??
They are buying puts like crazy @ the $2.50 strike price for June. Around 52k contracts

That is some big bet.
I wondering what is going on. It wont be good if they buying puts so low

Ok - Here is something important

This is very important what I have to say now. I strongly believe March as I said will be a very volatile and special month. I would not be surprised if March turns out to be an important turning point in the market. It is possible that March shows us a meaningful lows so we can go long.
This plays I believe will last a few weeks if not months with the easy money being made on the long side as opposed to the short side BUT I must stress it is not the ultimate bottom for the market.
People dont realize nothing goes in a straight line and from what I am seeing the selling is subsiding but the technical aspects of the market is pushing us lower.

So dont get scared when I say I am longing stock it is just for a trade as I believe the tide will turn this month.


MARKETJEDI

Technicals

We are in a technical area called DEATH :)

Rack up those profits my jedis dont listen to the idiots who are telling you to buy. SHORT SHORT SHORT till it doesn't work anymore.

Financials are all worthless good luck for you folks who are buying I hope you are around in 2 years.



MARKETJEDI