Dr Doom

Roubini is Dr. Doom, and predicted this. He's another economic genius, like Krugman, who we provided a URL link for yesterday on his view of what Obama must do.

Now, read Roubini:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=apvoCvLuZJkg

And after you've read what this economic powerhouse thinks, the Dr. Doom that predicted it that the government talks to, and he says the S&P at 500, perhaps then the incredible rally of 3/10 will seem less credible.

Whipsaw is likely, with consolidation possible, but more upside just as likely.

The market was already ready to turn, but 4 things led the burst up:

1. Bernanke tells us the recession could be over by the end of 2009. (Please smile)

2. Citibank actually makes a profit for the first two months. (Please smile again)

3. Obama clarifies stimulus packages, and Madoff goes to court.

4. The market WANTED to turn.

And on and on as to why. Our Dow projections are right on target, and although we may have consolidation, we continue to see at least a day or two of stronger and "exciting" upside.

Yesterday we hit the bulls eye, and our recommended March 340C hit highs of 10.10, for profits of up to 140% in a two day hold. Traders following futures did not take entry to the put, and we open the day with no open signal.