Friday and next week

Today the market was strange, very strong out of the gate, but previous strong Nasdaq faded quickly, Dow was the strongest index, with GM and MCD did the most up lifting. Dow was up 1%. Another very painful day for bears.

1. IWM and MDY were weaker than QQQQ, which was weaker than SPY, which was weaker than DIA.
2. Today's wonderful news: CFC secured another 12B credit line, the news lifted the market spirit. Is this their last decisive move?
3. Sector rotation again today. The previous leader, like tech, was weak and previous laggards, like financials, were strong.
4. I checked retails (like BBY) and financials stocks, both sectors were down more than S&P500 in recent months. Looks like the smart money already know we're either heading to a recession or a meaningful economic slow down.
5. Unless we have other "wonderful" news tomorrow and next week, I expect a mini bounce at the best, and then we head lower to test 1430, maybe the August low.
6. With this market, with the Fed, I have to say I'm still clueless. Multiple indicators are pointing to a pullback as well, let's see if the market can fool us again.
7. GS, LEH, BSC and CFC all shot up a great percent today, very much a strong bounce on a down trend. All are good short candidates, but better wait after Fed and their earning releases.
8. You don't want to catch the top or bottom, but want to sacrifice some profit to be on the safe side, I was careless in this regard. By waiting, you can avoid lot of mistakes, like being totally wrong.
9. Why do I have to play options, there are two things against me: the stock's movement, and time. Time is running out quickly if you place the wrong bet in options.
10. Fed will cut 0.25%: it won't show too much weakness in the economy; and it won't put too much pressure on the dollar. The market will likely sell off. This is the most likely outcome.
11. Thanks Ryan and Curt for your comments and ideas.