Wait For It

Meaning the last hour of trading.

If you were lucky enough to get in a few inverse ETFs yesterday, good. But, to buy them right here, seems a little risky. I think the better trade will be to wait and catch the move in the last few minutes of trading, rather than second guessing yourself the whole day.

it’s incredible to see how these ETFs trade in the last few minutes. Yesterday [[FXP]] ran 8 points in a matter of minutes. My day was made in the last half hour of trading, and I plan to do the same again today.

As for Yahoo! Inc. [[YHOO]] , I sold half my position yesterday, and will wait to sell the other half. I could be wrong, but I believe a deal gets done in the near future– they have no choice.

Off to eat a sandwich.

9,300 is broken.

Citigroup Inc. [[C]] looks dead & Goldman Sachs Group, Inc. [[GS]] is done.

I said earlier if we close below 9,300 to load up on your favorite inverse ETF. I just loaded the boat with [[FXP]] .

It’s super ugly out there.

The Bulls need to stay above 9,300 in order to sustain this bear rally. I’m looking for longs right here as it presents an easy exit strategy. Should we close below that magic number look to get long your favorite inverse ETF.

Note: I took my Petrohawk Energy Corporation [[HK]] short off the table, I don’t like the action ovah there.

Note II: Google Inc. [[GOOG]] looks great here– easy exit if trendline fails.

I would like to see us retrace back to 9,300 before getting long, unless we’re talking about Yahoo! Inc. [[YHOO]] .

Yahoo! Inc. [[YHOO]]

I think there is a high probability we rally tomorrow, here are a few names I will be looking at:

Agrium Inc. (USA) [[AGU]]

Apple Inc. [[AAPL]]

Google Inc. [[GOOG]]

NVIDIA Corporation [[NVDA]]

Research In Motion Limited (USA) [[RIMM]]

Yahoo! Inc. [[YHOO]]