Some ideas for tomorrow and Monday (06 March 2008)

I did not trade today due to a mistake of my own of reading other people's blog... Should have followed my own rules from the start.

We are getting closer to the bottom of the channel on SPY, if the jobs report tomorrow is bad I am expecting a gap down to either 66.31 or 67.86. We could then see a decent bounce from there. Make no mistake, this might not be the bottom...just follow the flow of the market. Some technicians say 60 could be the intermediate bottom.


My watchlist:
IWM, GLD, GS