Trading for the Masses

Well they just brought out the Gimp on CNBC and he was at a call center taking calls for Hope Now housing iniative. Talk about creepy stuff . . I don’t know why W is at the call center for the foreclosure government bailout center. What the . . . .anyways, the market is trailing off all day and is a channelingstocks.com commercial all day.

So we are almost done with the first quarter of the year and here is a quick overview of the SPX. You can clearly see on this chart that our trend is down and the three rallies we have had have all been induced by the FED and their actions. Each move has been slighter than the last, but the 1250 area keeps holing for now. So watch 1250 and 1400 for the ranges to change. Really nothing else to say at this point, but, it is interesting how the only upside has been driven by FED action and the rallies are not that strong even with all the intervention.

For the 4th straight day we are indeed stuck in 1330-1350 range all week. Oil is coming in however as we are short and happy to see the movement our way here on Friday. I expect little out of equities and the SPX again today, as we are Resevoir Dog like stuck in the middle