Wednesday, March 31, 2010

It's definitely a triangle..

..well one thing is for certain and that is we appear to have finished off the last stages of a triangle. Today was a perfect demonstration on how the market is going to do what it is going to do regardless of information. A bad employment #, and nothing. With the market closed Friday, it should be interesting how this ends. Either with an explosive gap up Monday or a 5/C wave failure with a massive gap down. I exited a majority of my short positions this morning when the market found buyers and started to rally. The rest are some minor april puts that won't cost me much if the market moves higher, and I'll be happy to add to them if the market can get below 1163 and 1154. Until then, it's upwards and onwards.
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