Out Hanging out with friends - Look before you Short

I was out hanging out with some long time friends, so indeed I have missed two days of rally.

Looking at the charts, my advice is not to attempt to short any thing at all...what pays is the price action during the day...not what we think will happen.

There are some interesting stocks like GS making new highs....While XOM, CVX is still on its way to its highs.... JPM, PNC, WFC are also on their journey up. So I think it is not wise to enter into any FAZ or ERY at the moment.

IWM has impressed me too, I was thinking of getting some TZA...but I think I will pospone my plan because there is still plenty of room for further upside.

Overall, the bullish sentiment is still quite strong. When those other traders come back from vacation, we have Obama to inspire the market...and I happen to be one of those traders who is hungry for more rally..... Kinda sick of shorting anything at all at the moment.

But yer know...I am a day trader for now...So when opportunity presents itself...I will take it...

Happy New Year!