Friday, January 25, 2008

Hibernation Waning

Seeing an awful lot of opportunity again. Despite my plan to stay on the sidelines I'm starting to like the set-up here. My watchlist, nearly empty yesterday, is again teeming with shorts.

Futures trading higher tonight. We get a higher open and I'll likely start selling a bit- especially if it fades. If we open and stay strong all day I may continue to wait. Feel like waiting is the smart play (and we should run higher) but when that nice set-up happens I have to take it.

I went to bed last night with no risk. Took none today. Nice break and now I'm ready to start cracking some skulls.

Don't love the idea of putting too much on the line ahead of the Fed. Although it seems disappointment is a distinct possibility.

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