Friday, December 26, 2008

Market Flat Until After Holidays; Dec. 26, 2008

The market has been fairly flat and volume has been absurdly low. I see that with the new year coming around the corner big moves should occur in the market soon. I'm positioned to benefit from that move being to the downside, with tight stops on most of the positions. Nothing has really changed in my analysis over the past week or so. The market should rally into the 950 S&P area, but its failure to do so in a timely manner and weakening momentum indicators tell me that may not happen. So I'm positioned short this market with the idea that's it's quite possible for a strong rally to 950. So I have plenty of capital on the sidelines to short such a rally.

I'll post something new when I see something worth mentioning.

1 comment:

Michael K. said...

Sweet, I can't wait until next week. I been staring at the market for hours already.

StatCounter