The title is a little bit of an exageration, but we are actually on pace to have a positive week for once. It’ll be interesting to see if “Freaky-Friday” squashes those hopes or actually gets its groove on and adds to the misery of the shorts out there. Speaking of shorts, we’re not to anxious to pull the trigger on any short positions, though we got our eyes on some – if SKF fall further, we could definitely get interested in that ETF, however, it would have to fall probably another 20% before we would pull the trigger.
Still hard to take this market rally serious, even with what we have seen the last three days – but nonetheless it is a positive development to see the bulls hold their gains and then some. In fact, tomorrow will be key as to whether we can carry the good vibes of this week into next. If the market drops hard tomorrow, then we should see the bears jump on these gains hard come Monday.
Update on new Trading Feature: Steadily working on providing you, the subscriber, with a new feature to our member’s area – Day-Trades. Should have the feature up and running by the end of next week. It’ll be a great strategy for realizing profits in these troubled markets.
Here’s the Nasdaq and S&P charts…