Sunday, March 29, 2009

March Madness!

The next couple of weeks will be choppy, at best, so bring on the Dramamine pills. Automakers are on the brink (again), the nation's most leveraged financials are still not out of the woods, earnings reports are coming around the corner (yep, another cliche), and in between, voting on mark-to-market (Thursday) and the uptick rule (Apr. 8) will create all kinds of hysteria.

Just another moment in the market. On top of that, though shares of Citigroup are flopping around like fishies on dry land, this bit of news could salvage the stock and reverse the downward spiral of the past few trading sessions.

It's a daytrader's fantasy, but nothing short of nauseating days ahead for longs. I plan to keep a small position long while trading another position between 2-something and 3-something. Yeah, it's that exact.

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