Bigger Picture (July 24, 2009)

Now that the major resistance has been taken out on the SPX, I will be looking forward to SPX making it to the 1000 level with optimism. Mark my words, once we get past 1000...there is little to stop this market from getting to about 1200. The rest of it is down to where is the capital coming from for propping up this market further..?

As a trader or investor, if you are still looking forward to short this market...then I guess you need to reevaluate your strategy. Yes a healthy market need short sellers...but again...short selling still needs some smart investment decisions to be profitable.

For those who missed this move, don't worry there will be pullbacks....it is the MMs job to make stock prices attractive to investors....they need us....and we need them...like "symbiosis".