The Wrap

{+++}There was no post last night as all of Monmouth County had a blackout and my power didn’t resume until 1AM. I have updated the P&L and removed just a few names that are out of buy range. The market couldn’t have been more ugly yesterday as stocks sold off, but again, there was hardly any volume.

Still a lot of data on deck, housing, unemployment etc so we will have to see if the market is in the process of baking in all the bad news. It is possible that a very strong rally is in the making, it is also possible that SPX may want to revisit the 1040, then 1020 level.

What I said a month ago still stands, try trading 1/2 of you normal position in this crazy market and if your not sure, trade even less, the market will always be here.

The market seems incapable of putting together a follow through day to the upside. Not good.

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