11-09-09

Well the bulls sure are strong here. If we don't reverse tommorrow i may close my short position and look to reenter at a better price. A close above 1120 on the SP500 will have me seriously considering my positions on the short side.

Built a small position in DZZ at $14.75. Looking over the charts and there was no pullback. A steady grind higher. The only index to make new highs was the DOW. NAZ, SP500, Transports, and Russell all had uneventful days.

Tommorrow is huge for the bears. We will definitely open higher and it would be nice opportunity to short off the open for at least a couple points. From there who knows. Would look to short GS, RIMM, AAPL, GOOG, or WFC off the open if we gap up. Also CSX, SPG, and CAT have been weak here. They also have been having a lot of insider selling pressure.

Don't want to have close these short positions but the market can go up a lot longer than i can stay short. Don't get me wrong longer term i am bearish but we could switch sides for a couple days and get long or sit on the sidelines for a couple of points.