Every Sign is Bullish

Every sign is bullish. The 50 day moving average crossed the 200 day moving average, and the ominous head and shoulder pattern that we saw as the downside risk has been passed.

Caterpillar earnings took it up, and Apple could belatedly.

We've revised our Dow projections, with a lesser downside because of this momentum, but remain bearish on the market without a consolidation. Yet again, the rise has been too euphoric, and without reason.

We took stop loss on our August 370P, but regained some of the profits with up to $1.00 a contract profits on our OTM Call.

With all these facts.....head and shoulders, 50 and 200 day moving average, I remain suspicious because again the euphoric "little reason" rise. If we can have effective consolidation, to allow traders to profit, the market can be healthier.

And the conspiracist in me just knows Goldman Sachs has been building the market long, and now has puts on the S&P 500 after they and the plunge protection team have done their job.

Follow futures carefully. Two way trades and good profits may be available.

Many new subscribers on trial have asked if it is necessary to be online all day to trade with us. I use an Iphone32G and trade 1/3 of the time from the phone. Blackberry's work well.

One must at least "watch" the Dow and "read the market" during the trading day, even if using "limit orders," which can successfully work well, but we highly recommend not considering option trading if one can't have some access during the trading day, even if limited to two or three times.