ARE YOU KIDDING ME?

The scariest part of today's trading was hearing the CNBC reporters (it was CNBC's 20th anniversary) reminisce about how they knew nothing about the markets when they started working at the network...I would argue that a lot of them still don't know anything! The markets had a quiet day today which is often the case on expiration Friday (April options expired today). We are bumping up against resistance on the S&P 500 and the Nasdaq. There is still a bit more room for the DOW. For now, I'm still trusting the trend. I will still enter some of these bullish trends, but I am being cautious. I am risking a lot less in any trade I am getting into. This is an area where it is very difficult to predict (or even anticipate) future moves. For the ultra cautious, it might be a good time sit out of the market or at least operate with very tight stops. For those that want to keep trading, it is a time for shorter term trades and small bets (risk or capital in each trade). The idea here is that you still want to trade the trend (because we could very well blow through this resistance), but you don't want to lose a ton of money if the trend suddenly reverses in a big way. I have been impressed with the strength of the bulls lately. I see other sectors that could lead the next move up. I've told you to keep an eye on the energy stocks. Most of them have been moving sideways for a few months. Some of them are starting to break through resistance levels. I'm still watching them, but they could start to move soon...maybe when they start reporting earnings. I still like the chart on IBM. Citigroup reported earnings today and sold off a bit. It is still holding its uptrend. Today's move could have been due to some profit taking...especially since a lot of other financial stocks were up. Let's see what happens on Monday...when Bank of America reports. Jesse is looking for success stories from using the Market Trend Signal software on www.orbisadvisors.com. Please send some to him from the link on that website...or send them to me at jerry@myoptionmagic.com. Title the e-mail MTS Success Story. Thanks for your help! Enjoy the weekend!