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[2cents]

I,m still "ALL IN SHORT" so take what I'm saying with a bias to the downside. Last week I said that we were setting up for a black Monday. That's a little over zealous. These Fri/Mon setups are typical for new bear markets but also can create a temporary bottom. When oil stocks and gold starting selling last week that was the signal. I thought we would see 725 on gold before the roll because I thought we would have a softer top than we had. When they sell everything all at once then the general liquidation has started. The fast money has been clearing for a while now and the institutions have been hedging. There's little more to say after that starts. I don't believe we will test the top but I do believe we will have some violent rallies and should see a bounce around the 200 ma. after more than a 10% correction. Watch for the old leaders to turn green first. Energy and Gold should still lead the bounces. My eventual target is in the 1780 to 1850 area for the NASDAQ. I have no idea where the DOW will end up, nor do I think it matters. It could take until July to get there and it could take 1 day if we have a real black Monday. I only know that the long term bias is now to the downside. When the fast money bottom pickers have given up then it might be safe to get your feet wet on the upside but have a quick trigger finger because it won't last long. That's my 2cents

[qqqqtrdr]

Congratulations on being short, I missed the first day ouch. I'm out waiting for my signals to issue a bottom before buying. I'm looking at Wednesday the first day to go long. I need OEX Put/Call to show a little bit more bullishness, and no more 10X volume down days on the indices before pulling the trigger and going long for the bounce...... Barry