Tuesday, March 9, 2010

Missed Today's 11 Minute Selloff

Wherw, a very demanding market.  If you are not watching every second you miss the 11 minute selloffs.  Trying to think the last time the market was down for more than 15 minutes and it was a week ago Thursday when the bad weekly jobless claims were released, the market swooned down and then embarked on the rally out of nowhere to post minor losses for the day.  Other than that we have been straight up other than yesterday's "down" day (-0.02%!)

Yesterday had the lowest volume of the year.... (insert broken record here).  If volume is light there can be no selloffs anymore which is the rule I am going by.  Therefore if the market cannot go down, and volume is poor, we must go up.  S&P 1150 lies ahead.

p.s. Today's big Cisco announcement? Need to take some lessons from Apple..

p.s.s. bought some March 115 SPY calls, similar 6% allocation we've been using a lot lately.... (will hold them unless S&P 1040 breaks)

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