Stick a fork in the bear market

it is done!There is a lack of bad news and each economic number that comes out shows that things are getting better.But stubborn bears who are over invested in likes of FAZ and SKF are still dreaming of that one last run.Dream on!

Market pulled back setting up an interesting day tomorrow.DOW,S&P and NASDAQ are all approaching 50day SMA.I'll probably wait till NEW HOME SALES and the CRUDE INVENTORIES come out to trade.Like always I'll day trade the ETS for quick scalp here and there. Break of 800 is the key but I don't think we'll see a significant down side without a major bad news acting as a catalyst.
Just read that Short Sales rise to Most Since September if things do turn around we'll go up in a hurry I'll start compiling a list of highly shorted stocks.

Booking Gains!

Taking profits here, this could be a profit taking day.I won't get short unless we break S&P 800.

Bears pinned!

Flexibility is the name of the game.I had been a stubborn bear for the last week or so.Many time forcing bearish trades and getting stopped out at many instances.Even though my losses were limited not making money while market kept on going higher was frustrating.Even though printing trillions out of thin air and risking our future generation does not really make sense.But hey this is what the market wants to hear why should I fight it and not make money.I'll take some off the table tomorrow if we do rally again.In case of a pull back I 'll have my stops in place.TNA, BGU and FAS are on my radar. But I am not risking going short because the bulls have the bears pinned!

Futures ripping higher!

Banks and Commodities stocks are moving higher in pre market.I am going to day trade on the long side focusing on TNA, GE, FAS,GNW,FITB,UYG,URE to name some.Good Luck!

It is quite frustrating to get any sense of direction in this market.Bears are frustrated by the lack of pull back and the bulls fear this rally would end.The only thing that makes sense to me is getting long Gold and Silver. At optionmonster.com they had mentioned some one buying Apil $14 SLV calls and April $13 puts basically a long stragle. I might follow suit or go long some gold and silver stocks namely:
EGO
PAAS
Ofocurse after a pull back.Right now the futures are up and please read http://seekingalpha.com/article/127152-the-geithner-plan-faq article on Geithner's Plan.This could clear up some general questions you might have.

Toss up Friday!

It is option expiration tomorrow, market is overbought and profit taking is way over due.The list goes on and on and on to make a bearish case.If we rally again on light volume I'll take a risk and buy some FAZ calls.