What a difference a day makes! For the past few days everyone was quaking in their boots and getting ready for the end of the government engineered rally. The end of the world was neigh.
But in our comments yesterday, we plainly stated that you should be long and not short. That positioning does not come from any ingrained position or point of view. It simply came from the near-term technical status of the market. Major support was tested and held. Bernanke was confirmed. Everyone knows that banks will get less free money, but still get free money nonetheless.
The bottom-end of our trading range looks like it has been established for now. Expect the major indices to rally to major resistance and further establish what may be an important top. Some may think that we blast right through, but I doubt it.
Keep your targets clear: SPX 1115 then 1130, Nasdaq COMP 2225 then 2275.
I’m loving the simulcast of the radio show. If there are any suggetions to make it better, please let me know. Constructive, please….
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Great show. Only suggestion: make it 2 hours! =)
Agreed. Fun times in the early morning. Wakes me up.
but u r dead already…..
Undead, unearthed (new gravatar).
The Fly is God.
more callers
How about a pie in the face once in awhile shtick just like Soupy Sales?
Or puppets (ventriloquist) that look like our Fed officials or Treasury Secty. as co-anchors.
LOL…I used to watch Soupy…You want to be entertained? Go to a comedy club…or watch some reality TV… 🙂
If no pies, at least give Pookie and Fang a chance.
He should get his own Fa-Fa-Fa-Fooie to abuse.
Maybe Gary himself?
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terrible tape, morning gap now filled. It’s not gonna take much to set off some real selling.
You know what it is going to take to set off some selling? 3 PM.