Monday, March 3, 2008

Here Comes Our Test

Posted by TraderMark at 2:58 PM TweetThis
We are again at magical S&P 1320. Let's see if the bulls have any magic left in them. Wasn't it just a few days ago we were at S&P 1390 and just about to (theoretically) break above the 50 day moving average? This bipolar market is truly amazing.

p.s. It's been well over 5 days since we've heard rumors of the Ambac (ABK) bailout? Can we be fooled again by the same darn news?

Anyhow, I sit in about 24% cash and ready to apply it back to the dark side if we break down to S&P 1315 or so. I, along with thousands of computers on Wall Street, I am sure.

Other than that, not doing much...

Posted by TraderMark at 2:58 PM

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