I am long BGU, QLD,  UYG, SSO and think the market has temporarily bottomed test the lows of November 21. Dow, NASDAQ and S&P 50 are moving higher with strong volume. If we can lose inside the range of Friday than we are looking good. We also see gold pulling back which is a normal correction since the GLD has gone almost straight up from $78 to $98. GLD should pull back to between $80 -85 where I would buy again.

Still holding onto AKAM which could not break down below $17, thats a good sign.

I like the action on AKAM today and went long. It had a nice breakout on Feb 5 and pulled back on lighter volume with a retest. Today is closed higher on stronger volume. $23 looks like resistance.

I also went long QLD and BGU.

The major indexes climbed up to election and sold on the news after Obama won. Then we sold off Wednesday and Thursday on strong volume which I did not like that much even though I profited from it with SDS. I went long again on Friday but the overall volume was not strong enough for me. This makes it difficult to know which way we are heading this week but I still remain bullish. As of this writing the futures are all positive. China just pumped $568 billion into their market today and the Nikkei and Hang Seng are up over +5%.

I will enter into TAN a solar ETF on Monday near this pullback at $10.70. It wants to run up to $15 for a nice profit.

I also like 99 Cents Store (NDN) as it pulled back on lighter volume at $11 support. Below is a weekly 2 year chart showing the support and I think it will run up to $16. Put stops below 10.50.

I think we have hit the bottom this year. Today with the MASSIVE down ticks the US index futures and Asia down almost 10% across the volume was still lighter coming down. Look at the numbers below from Yahoo Finance. This holds well for the bulls out there. I am long QLD, SSO, DIG, DGP and short on UUP.

I suspect that this week will be an up week. We have hit temporary lows with massive short covering and margin calls galore. We are extremely oversold here and time for a bounce up.

Look at the SPY below which is a 1 year weekly chart. Last week we went to test the low but did no break it on lighter volume. We closed above the open of the week which is bullish. I think were going to up to $105 on the SPY. I am long the SSO currently

Below is a 1 year weekly chart of the GLD (gold ETF that is 10% of the spot price of gold). Last week went went lower to test 9/15 lows, went down on lighter volume (which mean less sellers) and closed above the open. This is bullish which is why I am bullish on gold and buying more of the DGP (Ultralong gold ETF)

I am also long on UWM, DDM, SSO, MOS, DGP, QLD, UYG, UYM and now DIG (I think oil is heading up again).

I closed my shorts except the GS with my stop at 115 and entered into SSO this afternoon when I placed a limit order that paid off well. The SPY (ETF for S&P 500) went lower today into the bar of Oct 10 the big sell off day and closed above that and yesterdays close on higher volume. This is very bullish for the short term. I still think the trend is down but I’m playing the big bounces and falls.

I entered limit order for UWM, QLD, UYG, RRI (trying this again) and UYM.