Remember remember the 5th of November

Volatile session. S&P 500 bounced off the 1490 support for the moment.

QQQQ still best performing index. GOOG, BIDU, SPWR at new highs along with gold stocks ABX and NEM.

SKF was up 3% on news that C will writedown another $11 billion.

Only bad trade was letting CME go about 60 minutes early, could have gotten another 10 points. The good out of this was having an extra 16k as firepower.

Markets could go either way, so we do have our plan. For us, Tue afternoon will dictate whether we go long CSCO or go long SKF. We won't do both because there are two forces at work.

The one argument for CSCO is that the QQQQ is the one index in an uptrend, with the 10, 20, 30, and 50 day EMA's still rising.

The one argument for SKF is because the BKX is now at 2 year lows and is down 20% ytd. As the price is near the $100 point, there could be an incentive to push it through triple digits.

It's a 50/50 call, so it will be a last minute decision depending on how the markets react in the final hour.

Was forwarded this link from the New York Times. It's an online tool to determine whether its better to rent or buy a home based on a given scenario. Based on this tool, I was right NOT to purchase a home. Goes to show having a trader's mentality can be beneficial. http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html?_r=1&oref=slogin