Wednesday, December 10, 2008


Market opened up big, rallied into pending news on GM and F and the autos and then tanked and then bounced and chop fest, toughest day to trade is a chop day. We did well, and so far January Effects are beasts overall. We'll see what pans, thanks to all who attended today's class! Let's rock!

For those that wish to snd a donation in Tiny's father's name (he passed away last night sadly) please email - She will give you the details on where to send a check. Tiny requests that instead of flowers. My prayers go out to Tiny and the Saul family! Very sad indeed. The flag is flying at 1/2 mast today.

Oil continues to look bottomed and I think $50 should come into the OPEC meeting next week. Market is having decently constructive action here, as vaolatility wanes, though the flight to safety is ominous indeed. The auto deal is a joke, its actually pretty funny, they all running around like chickens without heads! More evidence that the market is relying on outside forces and nothing organic, which again is not a very good sign of strength.

Thursday we'll see, I am neutral on us here now. Still favor the upside and think 9000 should come before 8500 or lower, but I wouldn't bet my house on it. We'll just play it by ear, probably more chop and slop and wait for news. AMazing, these knuckleheads love the drama, we all know they will bail out autos, so why go through this nonsense. I mean, I know why, its all posturing to get what they want but do we really have to be exposed so such drivel? Very frustrating indeed.

Let's see what shakes, I thiknk fading the gap shouldl pay off lke it did today if we get a nice gap either way. From there tough call, though again I lean long if anything!


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