MY CRYSTAL BALL !!! IS IT ON???- YES

Well what can I say? I nailed it just like I had Today’s paper yesterday.  I told you we had good support around 10500 give or take 50pts and the low of the day was 10459 in the cash DOW JONES. The ensuing rally was a combination of selling that had dried up and some new buying , but has anything really changed ? Sure Merrill Lynch is gone. Can you believe that? ..unreal . The feds are very tricky as they bailout or steal companies. Will this eventually lead us to having control over our own social security money so we can put it into stocks?  So let’s just review what happened this week: First on Monday the stock market crashes 504 pts on a weekends worth of bad news, a small bounce for Tuesday then another crasher on Wednesday due to AIG problems. The TV and media are blasting out bad news like crazy, then the FED doesn’t move rates and  by now every ones freaking out and selling everything in sight. Hedge funds get short before the rules change  and the selling dries up so like a rubber band, the market shoots back up and ignores the slowing economy, slumping and dead RE Industry BAD AND RISING UNEMPLOYMENT AND WEAK RETAIL SPENDING , dollar sold off a bit, because the cash went into GOLD then GOLD moves up to 925 and reverses So now the public is stuck again at the top as Gold reverses and the dollar gains strenghth , because we didn’t lower rates and probably will see HIGHER rates before lower because interest rates are really affected by supply and demand of borrowers, thus a higher rate means a stronger dollar. I mentioned I loved the foreign currencies short and as of this writing the dollar is sharply higher in overnite trade as is the STOCK INDEX’S . I will give you some option trades to do over the weekend. For Friday, the DOW JONES has a 96 percent chance of closing lower then it did on Thursday, so I would be a seller as I think this new fresh good news will be short-lived . The best place to get short the Dow would be around 11400. Since we own the 11800 NOV DOW calls still, I would sell the 11500 NOV calls again for around 12-1500 each , I would wait to buy the puts until Tuesday of next week for the DOW. Look for BAD NEWS OFF THE UNEMPLOYMENT NUMBERS BUT IT WOULDN’T SURPRISE ME IF THE MARKET SHRUGS THAT OFF AND RALLIES NEAR 11350 OR SO UP THERE IS ALL AIR GO SHORT if it gets there. AND buy the 11300 -11000 Nov PUTS AGAIN. GOOD trades all..