Market Outlook

Futures are taking a pretty big hit, thanks to Doug Kass and his BS co-hosting on Squak Box. He is preaching how "the market is ahead of itself" and "he is net-short for the first time since January". Of course Dougie is pulling this mess, while RF has minimal cash positions. The INTC news is also weighing in on futures, as it is being hit with a $1.5 BILLION fine from the EU. I thought we'd be running higher today but maybe not. 75% of the technical players say the market is heading lower and of course, I am one of the 25%. My view is the for the short-term, like the for the next week or so but my time machine may be broken, so I might need to raise some cash. As long as the SPY stays above 90 (and closes above 90) I will stay bullish. When that ends, I'll pack up and leave. Options expiration week (this week)always has unusual volume and volatility because many contracts were written naked and they will be covered within the next few days.

I will continue to hunt for tiny small caps, for day trades, to fight this pain I am in. XING is a good looker but I will wait before I decided what I want to do.