The market erased a 170 point drop on the Dow to close positive for the day. This is considered a fairly bullish move. This could lead to a market rally over the next few days if there isn't any unexpected bad news to drag it down further. I don't see it being any more than a suckers rally that sets up for a continued trend downward. The safer trade would be to wait for the rally to run its course and play the next move down. For those that want to be more aggressive, you could try to play the rally...provided that the market does start to rally tomorrow. The UUP looks prime for a short term pull back and the FXE looks like it is finally ready for a short term rally. Notice how I said "short term". The energy stocks might get a nice bounce in the next few days as there appears to be a solution to the Gulf of Mexico mess. I feel sorry for you guys that live near that coast. Maybe you can try to scoop it up and sell it.
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