Morning folks. I will be out of town today till late afternoon. Im going to chicago for business. Ill be at the computer around 2pm or so for a bit. In the meantime @szaman and @mb_willoughby will be calling the picks in the chatroom for today.
Becareful trading today. We have some news expected today as the germans are willing to back an increased bailout fund for europe that should give us at least some relief from negative news flow. Be very wary if the market fades that news then its a very telling tell. BUT DONT GET CAUGHT SHORTING in a short squeeze today. Those buy programs kick in about 11am and thrust the market so watch the gap and then if there is no fade….look for the programs and ride them long. For past weeks the focus has been on the fear that the europeans wont do whats necessary. If we fade that then we have at least an idea of what the market is thinking.
Dont get caught just jumping in and around. If market gaps up nicely let things setup dont force anytrades. There might be a couple whipsaws along the way and stay close to szaman and mb. szaman as u know is just as good of a trader as me….and mb has been agitiating me everyday for well over 1.5 years and knows my style better then even i know it:)