The markets are down now but people are still bullish. There are many stocks which show good action and many others which stink. On the whole the Tech sector shows good action and the Banks are weak.
We might get some rally as we are down a lot but look for a good sustained rally only when sentiment gets bearish and/or there is lots of good news.
I have my qqqq puts but am looking to buy amzn and/or rimm on weakness.
The charts look good.
At this point I am looking to play the OBAMA transition rally, if it does work. He takes office on 20th Jan, so sometime around that.
I will post chats on AMZN, RIMM etc soon.
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