Market has turned around and financials looking good. I entered into FAS $6.75 today it wants to trade to $7.80 first than up to $10-11. Keep stopped super tight on FAS to below today’s low.

The bonds had a crazy up move yesterday the biggest move since 1962. I don’t think the TLT (20 year bonds) can hold price it may test the 108.07 price high yesterday. I am shorting this with the TBT.

The financials got a boost but this will not last. The chart below shows the price hitting the mid-upper channel. I am shorting with FAZ…be careful this is 3x leverage ETF… here we go DannyS.

The major indexes pulled back last week buy had a nice rally on Thursday. Below is a chart of the SPY which shows big price spread on Thursday on big up volume. Even though Friday we closed down we ended up inside the trading range of Thursday which is positive. I expect the SPY yo climb up to $95 this week then maybe $100.

Below is the XLF (Financial ETF) which reacted the same way as the SPY - the financials are a large portion of the SPY. I think the XLF will also test the $15 price then $17.

Entered long yesterday at $2.06 and 3 days ago at $1.84. Why? Because the volume was drying up  since the high on April3 and it was touching the lower trend line. Volume was good today but not enough to break swing. With window dressing next week CPST may push past $2.28.

Got in Goldman Sachs GS today at $175.00. They are just a cash cow money machine.  I think financials have bottomed out and time to scale in.

Got into Long Financial ETF (XLF) yesterday at $26.00. Went down today but on lower volume. I see this climbing up to $30 range.

Overall market so far is anemic. Shorting the [[XLF]] which is the Financial ETF. The XLF hit the resistance at $32 this morning and is heading down. You can either buy the [[SKF]] which is 2x the inverse of the XLF or buy puts. Bernanke will announce Fed rates on Dec 11 when he will probably cut another 25 basis points to increase liquidity. Thats a time to buy gold and commodity related stocks.