Probability

Probability we get a shake out here. I wont get into all the technicals but 1129 is a good probability short here or at least to start a position. We will see soon enough but with the commodities looking strong I would be careful being long the equities here.

More up

So nice up move today as said would happen. There is a small gap resistance at the 1129 area and I would look for that number to be in play tomorrow if we gap up. Again the market seem to be trading on this air and participation is relatively weak but the tape says higher right now.

Higher

I think the path of least resistance right now is up. Oil is showing a strong anti seasonal move but I will stick to my game plan for now. I will be watching the close of the quarter very closely as I feel we are in some kind of rotation again into commodities especially the metals.

Next week

More than likely I will be posting back everyday starting next week. In the meantime the markets are doing absolutely nothing. The DOW started the year at 10580 and today we are basically flat @ 10410. Tough tough tough to trade without much volatility but we will see how long this tight range remains.
Last year I warned this would happen and here it is, so it is not a surprise to me. Indeed I think the markets are on a dead shot to hit some larger cycle lows in 2011, I can't wait to see if I am correct.

Oil

Still thinking it will fall hard but we will see. Market looks like it wants a bit higher and actually we seem to be in a little uptrend till the cycle high in October. You never know as the last time it totally didn't trade through the previous highs and in turned it reversed. I will be watching carefully today for sure especially the volume which has been light.
All systems up and running as I type.

Fixed

Network is cleared and protected now finally, so I will be installing everything back on the weekend and ready for next week. Hope to get back to regular posting then.
Oil is trying to give a fight but I would double up on shorts up here.

Network problem

So this is the third day of fixing my network. I hope to finish tonight- My emails hacked, network hacked and what else I don't know, just a bummer but these things always seem to happen to me and at the worse times.
Market looks like 1087 resistance but when I have everything up and running perfectly hopefully tuesday I am post my thoughts.

Have a safe holiday weekend