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My FIRE long is way out in front of this market, which is impressive considering how much the indices are up. Moreover, my lone short is AAPL, which continues to lag the market. All of my trades are timestamped in our state of the art chat room (we just made some incredible upgrades too) and sent out to members via email alerts inside the 12631 Trading Service. That said, I think you guys know that I have been openly discussing those trades and points of analysis here on my iBankCoin blog in recent days and weeks.
If nothing else, this morning’s action proves that the sell-off we saw on Wednesday was nowhere close to having the legs the bears wanted. We are still in a turbulent market, flying through the clouds of those longer-term moving averages on the S&P 500 that I have been outlining in my video market recaps. That said, the more names like FIRE that are permitted to execute mulit-quarter breakouts, the more I believe the bulls will be that much closer to seizing greater control of this market headed into the end of 2011.
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