Market Update

Ben Bernanke essentially had nothing to say over in Germany this morning that had any impact on the market. It is still a guessing game going on as to will they cut, and how much will they cut.

The market is currently bi-polar. It has no logic, only emotion is moving the market currently. So far today the indices have been stopped by resistance levels and keeps pulling back from those levels. Don't let the green on your screen fool you into thinking that all has returned to normal. These kinds of moves are commonly referred to by the pros as "a bull trap". The moves lure people back into the market on the long side and then it sells off again leaving the amateurs out to dry with a loss.

Stick with the positions we provided you on Sunday night. Currently two of them are 'in play' (reached entry point). The remainder of the stocks remain on the watch list for their respective entry points to be reached.

The movement in the market thus far today does signal the potential of an afternoon decline so be careful.