8/27/2010 gameplan | Bulls on Wall Street

8/27/2010 gameplan

Market is popping due to better than expected downward revision (how funny does  that sound its a downward revision but not as much downwarder as we thought?) We will be getting a near 1% gap up or so .8% at the moment. As we’ve talked about we are at the bottom of the trading range the reward to risk ratio favors us right now more than at the top.  Lets keep an eye on the open and look for signs of either a trend day upwards or reversal. By no means are we out of the woods. News was still bad just not as bad as they thought.  As there was a lot of gloom and  doom yesterday lets keep an eye on a possible shortsqueeze if Bernanke doesnt put his foot in his mouth.

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