TCM Notes : 4/27/09

• Swine Flu fears are all the rage across the headlines. Homeland security is involved now. It's rattling the overseas markets, and US futures are pointing lower. There is a probability that we gap lower on the open and trade higher. However, since we've closed strong the last several sessions we may have another S3 close like we did last Monday on 4/20. Only Mr. Market knows.
• John Thain cares only about John Thain. Never forget that. Because he won't!!! Smug jerk.
• Waiting for leaks to come out of the banks involved in the stess tests.
• Looking for trades in SSO and UYG. S1 or S2 levels on the weekly pivots would be my zone. S2 would be in the zone with a 38% retracement from recent highs, and would correspond with the 50dma. So the support is defined clearly.
• Market remains in a confirmed rally based on March 12's follow through day, with distribution days still keeping their distance. Of course this could change this week, but it's better to trade with the trend. Which remains positive still at this moment. We'll see if the market catches the pig flu very soon.