Pre-Market:

I had a friend who graduated from college a while back Cum Laude — I graduated, lawdy lawdy.

Did I say that “B” word, as in “BULL”, yesterday?  Just about every domestic equity in my trading portfolio was down yesterday, while the DOW posted a window dressing gain. The broader S&P and NASDAQ were also down.

Last night, my chart pattern scans turned up about the lowest number of breakout patterns since I have been running this scan (about 3 months). The market is as confused as I am.

Meanwhile, Geithner goes on record by saying a strong dollar is very important  to the U.S.

Strange timing, in light of the fact that we are putting another $40 – plus Billion in treasuries on the table with auctions this week. After this week, he’ll go back into hiding.

I’m expectantly suspicious — naturally I  think this rally is cooked up a little.

I just can’t believe market shorts are making any more money than I am right now. This market stinks. I have played high and tight flags very successfully since August — I haven’t seen a high and tight flag come through in a good while now. That tells me a lot about this market.

The only thing I would be long in now would  be emerging markets equities, and when I say long, I mean one to two months maybe. And I would watch those like a hawk and get out on the first signs of a top. Domestic equity trades? One to two days or so and then out.

Which is why I’m atteding the 3 Gurus Plus online options webinar three days this week, as well as studying Futures trading — I need more weapons in my arsenal during this unfulfillable market. I believe this sideways bull/bear action could continue for months or even years.

What is eating at me at the moment is the trending lack of breadth and conviction in this latest bull rally. Anything could derail it at any moment.

Futures are up now, as well as positive overseas results, so let’s see what happens today.