Monday, November 22, 2010

Morning Madness

Morning Madness will be my daily updates before the market open.  It is there to let you know what the economic reports say, how the market plans to open, any watchlist items I might have, and how to play the market.

Today we don't have any economic reports coming out and the futures are currently trading in the negative.  They had a big sell off of their overnight highs will open down at this rate.  A lot of Mondays will see a bullish reversal if they open down so a play on the gap is likely.  Also keep an eye on the 1200 level on the S&P as that is still a major turning point for the bulls/bears.  Bulls need to close above that level to regain the momentum.

My portfolio is still long and will remain that way until we get another big sell off.  I will be looking to day trade the gap if a fill happens.

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