Market Thoughts

Well today we got a bounce and what a bounce it was pathetic indeed, no volume and just the oversold financial really pushed higher. I am going to follow my instincts here and say it was all based on Bernanke talking today and nothing else. I have no faith in bear market rallies and saying that there is no way we have seen the lows. A matter of fact I think we have a terrible March.
I will play it as it comes and if this is a rally we can jump on board for real but I have no reason to believe this is sustainable beyond a couple of days.


MARKETJEDI

I will stick to my plans

Patience

Patience is the key for me today- I will be shorting this gap up but then I will sit back and watch to see what they want to do. 6-7 straight down days I am sure the bulls dont want to add another so I would expect them to try higher but who knows what will happen.

I am basically playing it close to the vest today and watching

GE

Didn't even notice GE hit our $9 target. It is below $9 in fact. I am telling you this here and now all financials will be single digits when all is said and done

Borrowed Time

Action here in the market doesn't surprise me because I felt for the last two years we would get a meaningful correction in the markets. When I first analyzed it two years ago I concluded we would at least hit the 2002 lows made after 9-11. We are below that right now on the DOW but as most of you know the S&P is the better barometer of the markets.
I have no clue what they are going to do here! Today every single sector in the S&P was down, that's just terrible and I bet many will come out and say today was capitulation of some type but I have no clue. All I am willing to do is short the spikes on the financials and play the market intraday. Any gap up is free money short and the way we are looking right here I thing the next level will surely be 714-718 on the S&P. Do we get there tomorrow?? possible but it should be a good buy if we do but again you have to watch all your signals because the market is weak as a rat.

Wonder if they bounce us and call this a double bottom? We will see soon enough

MARKETJEDI

Nov Lows

Wow 20 minutes to go and looks like the market pulled a muscle. Come to me market I have some steriods for you, it is called you going lower because that's where you should be :)
Well tomorrow could be a nice set up if we gap down below the Nov lows and get some deep selling then move up back, that would be a good very good setup indeed.

SUB 7000

Sub 7000 just around the corner

Very Important level

Very important level lower on the S&P 716-718. I have no idea what will we do when we get there but it will be significant.