@sidster,

I think the rally is clearly overextended at this point and there is nothing really supporting this overextension as well... headlines about HOPES of a bazooka solution for europe...depending upon the summit Friday in Europe???...but there's still wednesday and thursday for a pullback

Europe is on a brink of a recession and S&P jst warned 15 nations from Europe of a credit rating downgrade


1265 is jst not breaking to the upside and today's candle on SPX was a more bearish candle than yesterday's and a tweezer top as well

I bet all the big guys are fully armed with their shorts by now esp. the financials
on the other hand(which I still think is unlikely)..if SPX breaks to the upside 1265+ with volume...then a massive short squeeze might push it further up ..good time for shorts to cut their losses and move on
today's action had to do with the bazooka solution news from Europe but it still did not break 1265 and pulled back EOD..if it was not for that news coming out of europe we would have seen a pullback today ..

MPEL prolly is a short on pops with 10 area as stops ..and add if 9.79 breaks to the downside

if it gaps up 10-20 cents in the premarket and it most probably will end up red for the day
(jst short term)
I dont really know abt options ..but longer term also the chart looks pretty bearish

@obama,
shorting energies is probably a good one too
VLO likes or even the solars

I probably will have to average up on my UAL shorts
AFFY was a lifesaver today . didn't expect it to lose 10 percent
down abt 20 bucks for the day