Wednesday 4-9-2008

For those days, the market was very bothering. Although there were a couple of days huge up days with huge volumes, the rest of the days were just a slow drifting. The FA side is all bad news, even Fed is admitting that the economy is going to recession. A day ago, BB said he saw the downturn would be not very serviou. Next day, the fed meeting minutes showed they were very concerned about the deep recession. From the TA side, the market is over-bought. So I have kept adding small short positions to the indices.

GOLD related ETFs

DGL Gold long
DGP Gold Double long
DGZ Gold Short
DZZ Gold Double short
GLD Gold
GDX Gold miners

Wednesday 4-2-2008

1:15 PM
Today Ben Bernanke testified infront of the congress, and said that the recession is coming. My question is that why till now he started telling the real thing, and what he had done during those 6 months.

Basically, he had cut interest rate more than 9 times, injected fed funds more than $300 billion, loss many montery policies for the banks. Now, he thinks that it is pretty enough to cure the economy or it is out of his hand. Obviously, the main street feels the pain. I don't know if it is the time to be bullish instead of bearish.

So actually, at this time, TA should be shining. From the TA, I believe that the market is at this short term top.