Don't hold your breath BEARS

A lot of economic data comes out next week.Bears will likely try to put their spin on it and justify that everything is going to zero.But in reality nothing short of nationalizing the banks will put fear back in our hearts. Technically there is a lot of resistance ahead which is the last hope for the shorts.They are hanging by a thread in hopes that overbought conditions with over head resistance will stop the bulls.If we break through, a massive short squeeze will take place which will be very rewarding.There is a chance that we do pull back here but it won't be a sell off.I am not interested in getting short if we do go lower here.Instead I'll be looking for stocks that consolidate bullishly to go long.
Update: I failed to address Auto task force rejecting GM and Chrysler plans thus sending the futures lower. But Obama administration is not going to do the right thing and let these companies fail. Instead they'll get a sweet deal and taxpayers will get screwed again.