Day Trading – The Bullz And Bearz

Markets Rally More Than 7% On $1 Trillion Dollar Plan

March 23rd, 2009

WOW! Again – wow! What a huge day for stocks heading higher. Let’s face it, this government is going to do everything imaginable to stabilize the markets. While most of our shorts took a nice little bath today, I’m actually not as worried at all about their outlooks. Many are still way overbought with all types of indicators screaming “short!” On the other hand, our long positions were up over 9% today along and are up over 40% since we opened the positions. Clearly I am not upset with today’s movement. Taking a look at the chart of the DOW, once we blew through 7,500 we quickly headed towards 7,850 where I think we are going to see the next reversal take place. Any sane investor knows there is no way on earth we are getting to 8,500 without a pull back. With this said I have a ton of amazing more shorts on the radar for later this week. Guns loaded.

 

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