An Upside Run

After three successful call trades in a day we made the moves to enter the market at the strong resistance line 8376 area that held the market yesterday, and then sat back on our hands.

Slimey Goldman Sachs made record profits. Oil begin to rise, even while gas demand lowers. Retail sales reports, always misleading and silly, point to the "recession may be easing."

U.S Treasuries dropped. And by 3 p.m. just read the market moves, to the theoretical Dow: Highs of 8401, fleeting, and lows of 8245, also fleeting, and then a day of minor moves around the zero point on the Dow, showing no real bias.

OXBHI August 445 Call was bought as low as 3.37, and barely moved all day. This was true with our put position also, all up until the 3 p.m. hour when a bit of action took place.

I'll make this simple: The market is at a crossroads. Upside is absolutely going to occur, and to our market tops, but we think or "wish" to occur in a bit of slow moving periods, where silly euphoria does not reign. Hitting a resistance line in a market waiting for second quarter results, and living in the "news of Sarah, Michael, and by the way, a declining economy" has the market in hesitancy.

We are hedging with dual trades, and don't know even which way we are hedging. Watch carefully, as another downside run on reality could take place, or an upside run to "there must be a way to make money."

The market is "flat lining." This always means something "big" will happen, just a matter of when. :)