Tuesday, April 01, 2008
Wowsa! The market EXPLODED as we entered the 2nd quarter. I had a feeling we would get a bounce, but have to say I didn't expect that kind of move, there were NO SELLERS anywhere to be found and after initially trying to fade the huge gap up, we went along for the ride and called MON, MOS and several others for VERY nice rides HIGHER! That's why we TRADE and don't invest, on days like today you can catch the entire move investors wait an entire year to make. Think about it, market up 3+% today and down 10% on the year. That's the power of the TREND. SO, what trend is this? THis is the anti-Window Dressing trend, the stocks that were sold in the prior quarter get bought to start the next quarter. We teach this class every seminar (you can buy it in our store, the Trends are your Friends DVD @ www.trendfund.com) If thats the case then this may have a few days to pan out but ultimately should crash and burn again. I would NOT, I repeat NOT be shorting this and trying to pick this off here YET. I think I want to let this one play itself out, it might have a little ways to go on this one. I have a feeling they will not let this go so fast, so I would not try to pick the top on this one. Let's see how it plays out. I am LONG GOOG and GS, two stocks I gave as TOP 5 shorts longer term, so that will tell you how I feel this second. I'm not long much, but I am long here overnight. I do NOT want to short this just yet. I think they can pop us for short term gains. We'll see, but don't be so eager to short here is my call. If we die again we can hop on board, but GS can see $200 and GOOG can see $500 near term. Will they? We'll see, but I wouldn't be shocked. Usually new quarter can bring a lot of fund money in worried they will miss the rally and that we are indeed at a "bottom". Are we? Highly unlikely. By the way, did you see how absurd they were on CNBC? Hehe, they were going nuts and all giddy, it was pretty funny. I think they nervous if market tanks hard enough they are out of a job, so they were clearly giddy. Is that what you call unbiased reporting? Being a freakin' cheerleader? :) See ya tomorrow, folks. Watch for followthrough. I think a gap down tomorrow is a free money buy unless we get bad news. Hard to imagine us tanking hard tomorrow, really doubt it. RULE!