Expect a decent dip in the morning hours. Load up on SPY shares and profit by this friday. Easy as pie. You have the Libya spook and of course all the people long stock from exercising calls who will dump in the morning as well. Then by friday you can start taking your profits from you long positions you take tuesday morning hours.
Prefer trading something that is diversified over 500 companies has a very liquid market with a good and active options market offering narrow spreads as well. Why make things more complex than need be. IWM is also very good. Higher beta, higher IV on the options and good liquidity on the equity and derivatives side. Think of IWM as the spice to your curry. You do not need nothing but SPY and IWM to trade for a living.
as a wise man said once. "BUY THE DIPS YOU STUPID MUTHA FUCKERS". Hence the markets are not going down, the "POWERS" that be will not allow that to happen. They will PROP them up at all costs. So I'm told. Now I'm a believer. This market has come back strong. Even though the consumer confidence index is a joke...as consumers are mindless idiots willing to take on more debt burden.... This market has proven that it is not going to fall.
Amazing rally in Europe as well after the US market opened. Might be a good idea to close european stock exchanges on US holidays to spare them yesterday's hammering
Imagine if oil wasnt up 6 bucks and there was no tension coming from overseas, the markets would have easily opened up 1%+ today and traded higher into the close probably pushing the SPX to 1365-1370!!!!!!!