Market rolls on

• Posted by admin
• on February 22nd, 2010

Market surprised all those who thought that market would crater at the discount rate hike. Thursday’s close had tipped the hand on where the max expiration pain existed. It was a master stroke on fed’s part. They knew that announcing this ahead of the expiration would have the least impact on the market. The smart money wouldn’t let fed ruin their killing on the day of expiration.

Next week is different, there is no expiration shenanigans to deal with. My thinking is that we may see some kind of pullback but it should be a great opportunity to get long. I wanted to short at Friday’s close but didn’t looking at the string of bullish Mondays recently. Market breadth is painting a bullish picture where as volume is not. I am in no hurry to take an aggressive stand right here. Money can be made effortlessly if one has cash to deploy when the right opportunity emerges.

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