Getting out of the Woods

Good afternoon ladies and gentlemen, we finally made it out of the bubble we had posted on here.  We have been picking up profits everyday.  Currently we are in a tricky spot as you see we have some consolidation on the top of the previous bar.  Currently this can still go any way.

Today we saw that the bulls are really pushing the limits even on light volume.  Media continues to support the buying of Gold and we are seeing Gold rebound.  This week we got a couple of fundamentals coming out that can drive the market either way.  I suggest you continue to be quick and lock in your profits based on your tolerance.

We are looking somewhat good.  However we are still not out of the woods. Our out of the woods target is around 1300s on the SP500.

Keep cool and Trade Smart!




Note: further stock setups will be called out on the blog with weekly ideas.  Get them while they are free! 

sp-500

Its 1:40 pm EST.
I guess we really called the trading range on the SP-500 it seems to be firming up but we need to burst out of that bubble that we just drew.  But the Market is trying really hard to confirm that bottom. I have been locking in some good gains based on pattern recognition.


Bernanke did exactly what media either predicted or fed him, which is to affirm that the Gov't will be there to help if need be. That buy by Warren Buffet created a good run and rally and currently we are attempting to make a run to those highs.  Based on his buy on B of A, he is betting for America (no pun intended).


Be carefull as we are still not out of the woods.

Be cool and Trade Smart!