HERE WE GO AGAIN!

Lately...every time the market snaps back from a sell off, it ends up going to a new high. If this pattern is going to continue, we need to get in soon...before it gets to a new high. I'm there with a lot of you...you just don't trust any moves higher. Although it has been hard to do, I am trusting this trend until it breaks...and I haven't seen it break yet. This was a nice rally off of support which was lead by the Financials, Energy, and Technology. GS, JPM, WFC, and PNC could be a nice short term play in Financials. CHK, APA, APC, NOV, KWK, HAL, XTO, RIG, and PQ in the Energy sector. I've liked the pattern on IBM lately, but it had a bad move down today after holding tough during the drops on Thursday and Friday of last week. If it can't get back above $120 in the next day or two, I would suggest walking away from that trade. AAPL is rebounding nicely. It is almost easy money when trading AAPL after a pull back. AMD looks good. Wait for SOHU to close above its 10 day moving average...that would be some nice confirmation. BIDU look like it will make another run. I still like HLTH if it can finally breakout! EQIX, GOOG, YHOO, and AMZN all look nice. Obviously, I'm expecting some follow through to this rally...that has been the pattern. Don't get crazy though. We still only want to risk a small about of our cash to play some of these moves. We'll take the extra money if the market wants to give it to us...but we won't position ourselves to get wiped out if it doesn't. Look to start selling portions of your positions when either the market, or individual stocks start to reach new highs. I must emphasize that this is a very short term outlook. We kick off earnings season in about two weeks and I think it could get brutal. This might be the last push...the suckers rally. We'll either be market suckers...or market spankers. Be a market spanker!