In two minutes traders drove the Dow 80 points through the previous high and then above 10,000 (after this chart). These are two very important points. As we all know the market can crash tomorrow. And if it does we will hedge or exit. Today we buy.
This occurred as we were preparing to post our letter written last night n which we said the market was at a defining point and needed to drive through the previous high to revalidate the trend. Consider the trend revalidated.
We will be adding to our index position (or positions) today, probably on the close –FAS or UPRO. This is on the theory that there may be some sell off on the close, but we’ll be buying regardless.