Mark my word right now is 3-2-08, tomorrow dow -300

There's the first bounce off of the NYSE Composite Index support level. Not a good sign for index futures shorts...

 

ISM was released at 10 EST

 

Another good day to be a scalper...

 

Can you handle the pain? Time to dump the short?

 

No wait - there's a short scalp forming right now.

 

Just scalped 3 ticks on the short side, in and out in less than 15 secs with 5 lots. Not huge money but it adds up

 

13 cents on SPY - I'll take it...

 

Uh oh - an oversold signal before we even retest support. More bad news for shorts.

 

May be tomorrow or Wednesday or Thursday or Friday or next week ...

 

Okay, so the short positions are about flat, that is, if you didn't bail.

Now the question is, do you continue to hold? Market will test your resolve.