Friday's Close

[coolhand]

I was pleasantly surprisedto see the market hold some decent gains today :). I was going to bail to "G" until 10 this morning EST when it started going south :?. Later on the S&Pwent a little red :shock:and I thought I would just stay put at 50% C and 50% S as it was entirely possible for it to make it all the way to Antarctica before the closing bell (not really). :D

There was a strong possiblity for a pull back today as the weekend spooks a lot of fund managers, especially after such a big, quick run. That fact that is showed resilence in spite of this is certainlyencouraging. I checked the futures and they were still strong.

What are your thoughts going into next week?

[Dakota]

it was good at the end cpmpared to what I saw at noon. good surprise. I will stay 33c 33s 34I as long as I get positive returns. I think I'll ride for a while

[tsptalk]

What we have here is a case of the market needing a break but a bunch on money manager who missed the boat and have a lot of cash on the sidelines. So any pullbacks shouldn't be too deep as it is a chance for these folks to get in at lower levels.

Both bulls and bears seem to expect a pullback. That makes me wonder if we will really get it. I lightened up to 50/50 because of the short term indicators. Following them isn'talways the best move but it beats guessing.