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!!!!
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