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Th call to close out shorts yesterday was a good one. I went long the RUT @ 666ish and the NDX @ 1720ish this morning. I’m glad I didn’t take the hit and at this point I think we are going to continue the rally after the Fed announces. This mornings action is extremely rare to be this strong pre-Fed. Somethng is up and it might just be a broad buying panic for the short term. We might have a hit a spot where we can get a seriousbear market rally here – maybe a couple hundred points in the COMPX and about 50 points+ from here on the RUT.

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