OO: It is hard to say whether this is the actual bottom, but the last few days I felt that we were approaching a short-term bottom. All the indexes rallied 3-4% today and that is a sign of strength. I buy strength and sell weakness, so I am buying here.

This is similar to 98-99 when the Fed unexpectedly lowered the discount rate and the market was up 3-4% that day and did not look back for a long time. I think techs will outperform S&P because it does not comprise of any financial stocks or housing stocks.

We will likely get to 1420-1440 in S&P. If we get past 1440 then this will go much higher. If we can't break 1440 then 1100 is the likely scenario.

Just watch out for the 1% selling days.

I like ACH, RIG and QQQQ.