Too tough

I want to close long and go short, just can't figure it out. I guess I'll wait and take the hit if it drops. Nice bounce off the 50ma though.

see the pattern.. intc jpm and now goog// this is not 2009.

see the pattern..
intc
jpm
and now
goog//

this is not 2009.

For sure. I'm ready for the longer term short real soon, still watching and waiting.

see the pattern..
intc
jpm
and now
goog//

this is not 2009.

What is the pattern?

INTC is up 6.8 percent since the NYSI turned up 7 days ago. JPM is up 6.9 percent. GOOG at the moment is still up 5.3 percent in the aftermarket even with the bad news. GS is up 12.5 percent in the aftermarket, 6.9 at the close.

That's in seven days. What is it? 1999?

Good read my friend. I myself have kept only my EURO/USD long on as a huge position, everything else is daytrading or micropositions. In my opinion, in addition to many conflicting technicals such as bullish and bearish MA crosses within days of each other, whipsawing oscillators, and a culmination of fib retracement fan lines, levels, and corresponding jigsaw puzzle of harmonic long and short term patterns, as if all thats not enough to deter the retail trader, the thin VOLUME is what makes it that much harder. I actually converted all my accounts to cash accounts, since I dont really use margin (options are enough leverage for me and thats just about all I trade), just so that I can make as many round trips/day trades as I need to without worrying about the minimum funding requirements ($25k per account). If not you're limited to 3 day trades every 5 trading days, and in this market, you'll simply get killed if you trade frequently and get stuck in positions. For example, I considered shorting into the close around 3pm today, but I had a small speculative lot of 165 goldman august calls and happened to be watching the stock all day long , and saw it really take off waaaaaay before the news/rumors even started to break. So luckily instead of shorting, I just closed some longs into the strong close, and with the 2 news stories breaking, shorts got absolutely sandblasted the last half hour or so. I mention volume because every piece of news is turning the ENTIRE MARKET , whether its energy supply/storage levels, BPs neverending (well hopefully fingers crossed ENDED/ending soon) soap opera, the steady supply of horrible macro US /global data, whatever--no fundamental theories will help you in this market, and even technicals, while working EXTREMELY WELL, simply turn on a dime because of the extreme intraday moves we've had. As long as volatility stays high, pick a stock, buy at the money puts and calls at the same time, then just sell into strength. Thats the only GUARANTEED way to win , haha. Seriously, doing that would work better than just about any economic or fundamental story right now, and the topsy turvy technicals actually support it. For instance, I was long QQQQ puts coming in to the day, bought some QID (ultrashort tech etf) calls to bolster my profits in the early leg down. Then I started almost immediately adding opposing plays, QQQQ 46 calls, ibm/msft/cvx calls, all the way down because A.) I recognized that it was a bullish ABCD move even though we were trading down, and B.) because you cant be naked long or short EVER in this market because if someone trips over their own feet in Antarctica and the market hears of it, we'll have 3 reversals in 15 minutes. And while I made 3 round trips today, all but one position was profitable even though I shorted a market I'm actually bullish on more than I bought today. Its just that crazy type of time right now. Ah well, lets do it all over again tomorrow, and throw in options exp to boot

I want to close long and go short, just can't figure it out.
I guess I'll wait and take the hit if it drops.
Nice bounce off the 50ma though.

DONT go short yet there is no signs of a top yet thou it a topping process

Just doesn't make sense to short the first dip. "V" top ? I doubt it.