Good Morning Happy 3 day weekend Trading Alert

Friday, May 23, 2008

now for the bad news. Art Cashin's works ring true, this market is about to roll over. This is my game plan

Ever since the break down of the rising wedge i been slowly taking some shares off the table and now i have to come to a decision if i should believe in my analysis or "hope" the market holds up. In a case like this when you have bullish tendencies when trading, it is hard not to look for pullbacks and trading opportunities, but in a market like this each rally will be short and the selling will be longer and hard.

I will be holding trades for shorter periods of time now

I will be hedging my portfolio with longs in the DXD and SDS or QID

I will be watching closely where money is flowing into and expect to see dividend based stocks hold up the best and will look for trades here.

I will feel good about staying out of the chop and know there is always another day to trade.

Save the money ..things are about to get cheaper.

DTRS