DRAMATIC TURNAROUND

Tack så mycket! That's Swedish for thank you very much, or at least that's what Google tells me, haha. I'd like to thank all of you for visiting my blog. In the past month, this blog has had over 1000 clicks with a returning visitor rate of 40.21%. I've seen visitors come from all parts of the world with 67% of them coming from Canada, 26% from the US, 3% from the Bahamas, 2% from the UK, 1% from Sweden, and 1% from India. Further, my analytic software tells me that the average time spent on my site is 4 minutes and 3 seconds.

Anyways, let's take a look at the DOW now.

If you were trading at around 3:30pm today you were probably thinking the same thing I was..."what just happened?!?" In less than 2 minutes we recovered from a full day of selling. The markets were down nearly 2 days in a row, it looked like we were finally getting a sure direction in the markets but that all changed after word that a bailout plan for troubled bond insurer Ambac Financial could be announced next week. So what's the word on the street, should we be going long or short? I wish I could tell you but this rumor in the last half hour of trading put the indices right back inside the symmetrical triangle. For this reason, I would not go long nor short at this time, wait for a sure signal before picking a side.

Note: I am still in my NYX trade, there's a good chance the markets will rally on Monday (DOW had lots of volume near the end of the day). Nevertheless, I don't see myself holding NYX past Tuesday.