Thinking Out Loud (both on and off topic)

1. The overall market looks good, but resistance is looming.

2. A few more points down and I will start letting go of my short positions (already got rid of RTP).

3. I will likely enter SPY around $87-88

4. Most stocks are pulling back with bullish undertones (low volume, orderly price movement).

5. Lots of good looking breakout stocks have emerged over the past few weeks.

6. I am extremely short term bearish (though this condition is being worked off), intermediate term bullish, but longer term we are still in a bear market.

7. Point 6 is a good example of how important time frames are to trading.

8. To actually call a bottom, I'd need to see more volume

9. However, the price pattern looks good for bottoms, especially if SPY mounts the 200 day moving average.

10. New leaders are emerging. Get those relative strength scans and filters going.

11. Lebron is the best since Jordan

12. Manny Pacquiao is the best since Ali. He will destroy Mayweather.

13. This Minnesota Vikings fan to Favre: Please go away.

14. Why do so many poker players go all in pre-flop with AK? Against any pocket pair you will lose money over time (55/45 with QQ or lower, dominated by KK and AA). And who is going all in against you with AQ or lower?

15. Smallville, yes Smallville, is the best show in television. If you are even slightly a comic or comic movie fan, get the DVDs and watch all 8 seasons.

16. What was the big deal about Wanda Sykes Limbaugh jokes? Rush has said far worse, and nobody says boo.