Tuesday, December 2, 2008

Down 700 Up 270

The circus that we call the market continued today in all its glory. A big move up, then a big time swoon around 1:15, then a strong move to highs that started about 2:15. If you don't know what you are doing in this market you are going strait to the gallows as prisoners are not taken. The cumulative moves in names like SKF and SRS today were just mind boggling. Certainly not for the faint of heart. The blood rushed from my head today on more than one occasion. Gotta love it though. It keeps you young.

I'm not even going to try and give you a clue about where we go tomorrow because I haven't a clue. I do know the sun will rise and the market will probably be open though. I will be watching the 850, then 858-860 on the S&P as immediate resistance.

Can we do two in a row again? Doggone it, who knows?


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.