Wednesday, April 1, 2009

The Kirk Report

The Kirk Report

Fill The Gap

Posted: 01 Apr 2009 02:55 PM PDT

They couldn't keep the market down today especially ahead of tomorrow morning's FASB meeting.

S&P 500

Yet, today was only another battle within the war over control and all we did was fill that Monday morning gap down. To be sure, those who took out protection last week through the leverage shorts aren't getting paid as expected. But, we still have two more days left of this week and a number of market moving reports tomorrow and Friday.

Again, we need to see some follow through by either side to break through this log jam. Meanwhile, the market is likely to chew up anyone who doesn't daytrade until that happens. A lot of patience, and frankly being more careful than usual, will serve you well if you're trying to grind it out this week.

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