WTF!!!

Alright, so as I'm sitting here in my car waiting for a meeting to get started...I take a look at the markets just to get a snapshot of the day...we're down (go figure)....but I notice GLD, SLV, and TLT is down. Now I barely heard CNBC talking about gold this morning and how it's been down in this collapse...which really didn't register. But as I sit here waiting...it hits me what they were saying on TV!

I went back and looked at a chart of gold & silver and their charts are trending down! This shouldn't be right and it just goes to show how F'd up this market is!!! Gold is supposed to be a 'flight to safety' or a 'safe haven' in times of economic trouble....but there's no safety here either!!! Where the heck is all of the money being put to work at?!?

This market is not behaving like it has in the past and it's defining new rules.

Time for my meeting...

-Matt J
Sent from iPhone

HA!

Wow...what a day. As stated before I was expecting (as was a lot of people I'm sure) or "looking for an 800 to 1000 point gain, in a single day". That day came today and we had pretty good volume to support the move. See below.
The Dow was up 936!!! (See below)

The S&P 500 was up 104! (See below)

Is this the absolute bottom? Who knows, and time will tell. But for now, I'm playing and have been positioned for a reversal to the upside since Thursday (10/9/08).....And if you haven't noticed, we passed Friday and Thursday's levels today in 1 swing.

-Matt J

Quick SnapShot of the Day

As of this writing, we're looking pretty good in terms of gains for the day. We're just over half way through the trading day and it'll be interesting to see if we continue at this rate....I would add a screen shot of the tickers that I'm looking at but I can't add them for some reason (my apologies).

I'll post again later to summarize what happened.

-Matt J

Hmm...

So...just like I said previously, "We're crashing".....that's still holding true.

Now the next question becomes....'When do we bottom'?

And to be honest I have absolutely no idea or even how to guess. I want to say that somewhere around 800 is where we'll bottom because that is an extremely hard support level. But this is not a fundamental or technical market anymore; they've both been thrown out the window. This market is trading on psychology and sentiment...and right now absolutely everyone is in a "doom and gloom" mood. Even the sports radio show I was listening to today.

But i will say this; the day we turn around; we'll probably see an +800 or maybe even +1000 one-day gain in the market. I think there's so much money on the sidelines just waiting for an entry it's not even funny. So when one money pool sees another go in; and another sees those two; etc. it'll just BOOM! (although, 'SHOULD' is no gaurantee).

Just hang in there; I really think we're close. And if anything be happy that oil is down to 77.50!!!

Have a great weekend!!

-Matt J