Last week, the market dropped below major support when the Unemployment Report was much worse than expected. Job losses were 100,000 more than analysts had expected and bulls finally threw in the towel. Since March, they have denounced the Unemployment Report claiming that it is a lagging piece of information. Month-after-month, the news continued to

A week ago a crack in the dam appeared when the market was not able to rally during option expiration. Stocks were at a major resistance level and option open interest favored buy programs. Any small catalyst would have sparked short covering–but it never happened. The market seemed very tired after a huge run and

This past week the markets leaped in both directions and this time the volatility worked against us… The only good thing you can say about getting stopped out is that our losses were limited and now we’re on the sidelines safely back in cash. If we are going to bet with the opportunity of winning

For days we’ve had the “calm before the storm” as traders waited for the Fed’s decision. On Wednesday a decent durable goods number and an unexpected build in oil inventories helped spark a short covering rally. The “dogs were barking” and stocks that had been hit hard were leading the charge–but it couldn’t last. Last