Trading for the Masses

They have fallen about 12 pts on the spoos off the early highs @ 1361.5 and we have 30 minutes until the close. Remember, holiday Mondays tend to be strong after long weekends. Also end of month/quarter T+3 markups in full effect. Some room yet to run on the upside but we have been culling our trading longs in equities and searching for longer term areas to build shorts over the next 3-4 weeks as new to the game retail shorts get squeezed and told by the media that the “bottom is in”. Maybe over 1450 on a spoos close, but until then, nothing but a vicious oversold bear market rally.

Here’s what I have been doing all day today. Just watching the big rally fizzle here late in the day. The high of the first hour in the spoos was 1357, we are now trading 1353 so where’s the beef grandma? Go get yourself a Trunk Monkey

This market is truly full of hot air. Not much volume and the print em up and mark em up boys are in control early here on Spring Break. What else is there to say, no volatility and snoozy monday am over here on the left coast.

We aren’t moving much over the 30 minute highs, but we are up 2.5% on the day. Party on. The Bull is back . .. for 3-4 weeks. 1410 is in the sights.

Not JPM, they supposedly get more backing from the NY FED and up the ante for the pissed off soon to be former employees and rich fat cat investors who want more than $2 buck chuck for their $100 they invested. $2 or $10 its all a boondawgle to me.

Hope everyone had a Happy Easter. Its’ Spring Break so enjoy yourselves out there as they mark the end of the first quarter of 2008 this week!!