Wednesday, February 29, 2012

Mess With the Bull and You Get The Horns

Hi Folks,

Well it seems as though this market wants to keep grinding higher. Any selloff is met with immediate buying. Sunday night, most charts looked like the were ready to selloff and they all did Monday morning but then reversed within the first hour of trading. I am still in the sell the rallies mode here. We are in the 137 area in terms of SPY and I still feel that this is going to be a difficult area for the market to get through. Let me be clear I am not bearish. When I say sell the rallies it is mainly in terms of day trading. We could easily keep trending up to the 142 level in terms of SPY.

Thanks and Good Trading,


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