Red

And here we go again – isn't this fun?

Your charts always cheer me up. Thank you.

Good morning guys – it's been rough. I just switched my June puts (which were much under water) to July ones.

Well, not yet on the spx and spy… but it did on the ES

They are trying to fill the gap from this morning… which is great for the bears, and then the market will be free to fall the rest of the day. Remember, there is a gap that needs to be filled from yesterday too, and that will act like a magnet for the market. It will eventually get filled.

And as I write this… the gap just got filled. Great.

You would think this am retail news would sink the markets since it is extremely negative compared to yesterdays news that was rather luke warm.

But even though i added some good short yesterday iam starting to see that move to 1120-1140 to be more probable.

So I may cash out on today's bump.

Yes Jim,

Disqus must have been down shortly for maintenance yesterday. They changed the “Share on” link below, as now I can only share my comments on Twitter and Facebook. It used too list 6-7 different sources, like digg, linkedin, etc… but not now. Bummer.

Looking good for bears till now

From Adam Mesh:

Yesterday is being hailed as a very significant day in the stock
market.

The Dow crossed and closed above a major psychological number:
10,000.

10,000 is a number that seemed years away when we were in a
nosedive below 6,500.

Now here we are.

The Media has already put together Dow 10,000 specials.

It seems like a happy ending right?

Not for everyone.

I spoke with some big time day traders and they were less than
thrilled.

Not only did the move happen overnight – the volume did not back it up.

That makes it harder to believe.

That means… well, it means that not that many people are “buying”
it.

Day Traders can't jump in and out of stocks because they are moving
up like a feather you just can't grab.

Did anyone have trouble accessing comments yesterday?