Today, the Fed minutes were released and the Fed basically said that they are still concerned about the inflation. The market sold off on those commets but still managed to find support. I'm still bullish if we can consolidate here or move higher. If we cannot break 1450 in S&P soon, I'll look into shorting, or a close below 1420 will make me bearish. I guess the CPI numbers on Friday will be very closely watched. Still holding SIGA. Took a beating the last two days, but nothing to worry about. It is near my entry price. It took a while to get past $5, so that should be a strong support. If that does not hold, I'll take my loss. The easiest money that was to be made have been made. Now many of the break-outs are likely to fail. The best way to play is to buy oversold stocks with a tight stop. This way you don't lose much if you are wrong. If you consistently get stopped out, realize that the market dynamics has changed and stay in cash. The market needs to come down to 1360 for me to buy and hold for a long run.