Wednesday, February 28, 2007

Lets see what the last 2 hrs bring. Will the Dow close above 100 ,will we see 50-80 or will we see a sell off ? I put stops on some DXD, MZZ, QID and SDS positions in case the market runs up and continues the momentum tomorrow. I added into NYX judging the strength throughout the day. Pullbacks on NYX have been on lighter volume which is a factor to note. Right now I am trying to balance my longs and shorts to see what direction the markets take. I do not want to get caught leaning too much in one direction lest I get burned. The key is too find stocks showing relative strength and go long and to 'hedge' by finding relative weakness and shorting those.

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