FUN MARKET.

NOT.

When I get it wrong I will be the first to admit it and yesterday showing only shorts and no longs should have been my hint today was going to be an up day. Instead I stuck with my guns and showed shorts. I went short even one of them, getting hit quite nicely in QSII. That is twice it has done that to me, btw. But what other two did I mention that could have lost you big money: MCRS NTGR. Hey, when I get it wrong I get it wrong. Luckily both were not in the best shorting positions so I skipped them. But bottom line is how many people admit they were wrong. Not too many that are not for real. But I am for real and for that I apologize.

Anyway, back to the market. Short-term SP500 and DJ-30 still holding the recent lows and had a nice (not great) day today on a pickup in trading. That is another accumulation day and since it was up 1-2% it counts as the confirmation day of this current short-term rally. SP600 still looks weak overall after making new lows yesterday and today does not get me too excited about its current condition. The Nasdaq on the other hand is a different animal. I am seeing leadership in this index and can tell by all the charts starting to show up in my scan in uptrends that are technology and internet related that the nasdaq is taking leadership. It does not mean it is going a lot higher but for now seems stronger than other indexes. Today it had a great intraday reversal on higher volume and I must admit the reversal looked good. However, it reset its current rally yesterday into a failed rally and today would be day one of its new current attempted rally. Crazy market? You bet.

Longs that look great for a swing trade: CYH DIOD RVI PYX MCRS HLTH ARRS ABB CHL SIVB

I have mentioned SIVB ABB DIOD RVI HLTH before.

So even though today was one of my worst days in a year, I am still up big for the year and handily beating the averages. That is all I can ask for. My positive attitude I believe is a key to succeed at this endevor. That is why a day like today doesnt make me upset instead it makes me happy to know that my longs might do better than what they have been doing.

Don't let this market get you down. It only will help in washing out the weak hands so we can make way for a real rally.

ALOHA surfs up!!!!!!!!