Market Update

We had two positive news- good retail numbers and money flow into Citigroup. Think about the worst affected sectors that drove down the market, were they not Consumer Discretionary and Financials. If these negatives are eased, they allow for good ingredients for a rally. Keep this mind over the next few weeks, this can really help play the market.
Even though there was havoc on Tuesday, the volume was very low. So, probably the big money was not selling yesterday. That concluded to a nice rally today. But the overriding factor is ease of negative news and oversold levels.
Keep in mind the following chart posted here. Once that red line is crossed, we will setup for a meaningful rally. As far as my stocks are concerned, my predictions has turned true for DRYS short which I covered yesterday. Still holding my TSL short. It broke the earning day's low today at 33s and snapped up two points. Will see how it moves from here. Short was initiated it the 37-38 range. Other than that I still have a lot of longs on my list.