Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

S&P 890 is the big Number

We continue to wait for a victor in the Bulls vs Bears war.  I still contend that the Bears will win this one and we will see a return to the bottom, but until the S&P can break its support, we will continue to watch people throw their money away.  This market has support at 885-890, so a strong move below that figure is our stop to go against the market with the usual barrage of QID's and SDS's (Ultra shorts).  At a minimum, we will see a 100 S&P point drop once we break the support, but my hope is to cash in on a 300 point slam through the end of the year.

Stay tuned in!