In our last post, dated Sunday, March 08, we wrote that it would be a good place to start an initial position in ETF's such as SPY DIA QQQQ. If you did as such on Monday then we would advise to take some profits tomorrow, roll stops up, and try to ride the rest for a possible run to SPY 80.
On a personal note; we've had more fun this week riding the bull than we have in all the previous weeks combined shorting the market. The PnL hasn't been much different but we all seem to be in happier, better moods making money on the prospect that the world as we know it is not ending.
That being said we know that the possibility that 666 was "the" bottom is quite remote and most likely we will re-test the lows some time this year. For now though, let's enjoy this vicious bear market rally.
