Tuesday, February 9, 2010

Finally a bounce

Who would have thought I would be rooting for an up move but I want to get more short positions on and need the bounce. Finally today it did, SnP was up about 15 but this market cannot sustain the up move. Nobody is interested. Too many worries, plus this was nothing more than a bubble over the last 10 months. a rally based on bullshit. I coulda got my VXX at 32 but no,... had to wait for more bounce. now its at 33 and rising fast. damn. oh well... my rule number one is do not chase. I have gotten totally hosed everytime I do that. Anyway.. this market was quite oversold and we should still get more upside, especially with some short covering above these highs. I will wait some more. My TZA is doing really well, holding up strong even in light of this early morning rally. Dow is only up 72 now. geezus the bulls have left town. they cant get anything going. Goodbye to everyones 401k!

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