os futs, page-22

re: am short spi now fwiw. bulrus, tho I'd like to think we are not entering a bear market I'm not trading that notion atm. Really I think like you that the markets are oversold, they are at or just below support and so if there is to be a rally, then now is the higher probability time. Given tho that its news driven market atm, I've decided to wait and trade the markets reaction to the data and bernanke tonight. News driven markets are only partly about technicals imo, unfortunately. If Bernanke isn't well received AND the core cpi exceeds 0.2, then the us markets will probably tank for at least a while. The big worry for the spi is the metals prices that seem to be tanking - gold, oil, copper all down tonight on lme last I looked. So the spi gains might be limited even if the us markets are happy. Tricky. I'll just follow the market. cheers!