Long-

Building a small long position on the QQQ here-

Shaked me out

So the market shaked me out of my longs late tuesday them decided to make a V reversal after hearing Obama talk about tax cuts and the Fiscal Cliff yesterday.
Before the open we hit 1416.75 which was some resistance and will be looking if we can get through this area on any buying.
In the mean time I am all flat and waiting to get back on board as long as there is no choppy trading which has been frequent these days.

Downside

Traders working the downside early this morning- looking for that 1378-80.75 area for some meaningful support

Before Open

Well seem like getting out yesterday at close below 1400 seem to be the right call before the open. 45 before the open we are down on the futures and looking for support @that 1391 level early on.
Yesterday was tuesday and we didn't get our usual turn around tuesday play that that tells me we are biased here to the downside for the moment.
Let's see how we play into mid day.

on the upside the number to get through is still 1408

1403

1403 is the magic number for me to stay in my current longs at the close- of we close above I will still ride my long positions I have but below I will cash out.

I still believe in my upward bias mode for rest of year but we could be in for a pullback before we remount again.

BINGO

officially +40 point on the S&P since friday's buy.
Sometimes you just have to take the opposite side of these tv talk heads even without a setup.

Proves they are always late or wrong!

BINGO!!

WOW- market moving up nicely from my 1345-50 zone- Premarket we are at 1372 with resistanace @1376.
I will be taking 1/2 off within the first hour for a whopping approximately 28 points.

BINGO!