Thursday, October 15, 2009

GREEN SHOOTS

The market keeps marching (GS keeps moving). And the pundits keep pumping. Reality still takes a back seat to the reinflation effort. It should be obvious to most of you this is orchestrated....but the more important question is how long will the uptrend continue before a significant pull back.

The 50 fib retracement is 1120 (if my memory is correct) so there will be an important area to keep your eye on. But of course it is only a number and GS can rip that right out of your ass if you try to trade it heavy......so be careful.

Took a loss on some of my DTO yesterday... Tooooo risky at 75.......will watch EIA report today.

Dollar is weaker too now so I don't like the set up being short oil now but we will see. Oil is a tricky trade here short term until dollar shows strength.

In other words ......watch and see day .....will try to trade gaps but it all looks contrived to be flat and finish green to confirm 10,000 was not a fluke......gl

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