The "Turn" Appears to be Here

Very positive action today after surpassing S&P 1290 [S&P 1290 is our Moby Dick]. Still 2 hours to go but any close over 1305 or so would make us happy campers from the long side. (need to stress - we need to close above that level; not simply trade over it during the day) I've continued to reduce exposure (unhedge us) from the short side; now we just need to actually find stocks on the long side that go up, instead of down.


With this sort of action we can potentially see a move all the way back up to the 200 day moving average (1370 and falling) although not at the pace we've experienced the past few sessions. Or maybe we will, everything happens in lightning speed nowadays. When we get there will revisit the dark side of the market as this rally is yet another hoax in my opinion. Our troubles do not go away just because crude oil is lower.

Some amazing action ...