Tactical/Strategic

So far the market has cooperated and has been pretty much on track with 3C's expectations. We went from a pretty nasty down trend to a basing area in which I suspected the market was going to bounce (there were some scary days that caused me a lot of anxiety on the way), but ultimately, from the failed attack on resistance last week, the call for a pullback that is accumulated and a bounce toward the 50-day moving average, 3C has caught all of the broad strokes.

The tactical approach is to short stocks in to strength and the end of quarter window dressing may be that strength we are seeing, I would expect the market to probably do the unexpected and perhaps bounce higher then the 50-day moving average, but I want to start preparing you now with short ideas that you can put in a watchlist and start making preparations for when we get to that point in which the market drops on the second shoe.

 SPY reacting well with the 50-day moving average as traders gravitate toward this very common average.

 Like I said, expect the unexpected, now that we are near the 50, we could certainly shoot above it, but things can change very quickly. This market has risen in the face of some horrible economic news, when t prices that n, the downside should be quick.

So far the 60 min 3C chart for the SPY is still positive, meaning there's still possible upside, but we need to start preparing our list now. Some long term traders may want to start phasing in to positions now or over the coming days, I'll try to give a long term perspective on some of these ideas.

Finally, send me your emails as usual, but if t's important, please put that in the subject line as I will be very busy today putting ideas out there for you. I'd urge you to keep a watchlist of some of these ideas, and maybe set some price alerts at key levels.