11-1-09

The market, for the past 6 monthes(starting middle of June), has been in an up trend, this is demonstrated by higher high and higher low in the major indexes (DOW, SPY and QQQQ). now, we are in a critical moment, if the market can keep above 1020 for SP 500 and 9430 for DOW, we are still in the trend. so, next week trading is very important.Two things worries me, 1). the DOW is not oversold yet. and 2), transportation shows a pattern of double top. So, there is an chance that we will see further slide of the market before it is stablize.What we could do?1). if the market can hold here, then, maybe the friday's low is the bottom for the near term. we could be more aggressive on the up side2). otherwise, we can begine trade on short.