Current Positions 7/13/2011

Morning folks. Closed out a lot of my positons yesterday as market was a bit shaky. Looking like I probably should have held onto a few. You guys see $oww ?! wow. The market is gapping up .4% so far. Nothng to significant i actualy dont like gap ups and prefer big gap downs for daytrading. Lets see if the market stablizes today and we can start taking out some levels of resistance. Helicopter ben has a meeeting with congress today so there is some hope he will say something positive about whats happening in the u.s. to help stablize the markets.

remember we had a key violation of the 50dma in the S&P yesterday. this is to suggest a more defensive posturing. The other 3 indexes are still above the 50dma but are all nearing key levels. The key today is to see if we can hold this gap up and then start inching our way back up.