Lesson learned and some thoughts for this rally

First of all, I sold the JASO @ $3.23 and made a few bucks. Couldn't get a hold of SOL. Bought 100 X Natural gas ETFs UNG at $13.14. I will hold on to this for a while ( a few weeks to a couple months maybe?).

Anyways, I was thinking about this rally. It was really like the reversal of Feburary's downturn. The market keep heading south no matter what. Once in a while there was a rebounce, but it would be followed by a even bigger dip the next day. The market ignores any positive news (there weren't many, but still a few here and there). The market was way oversold, and it didn't matter. At that time, many people was waiting for a strong trigger, a positive trigger that is strong enough that would reverse the trend.

And there it came the Citi CEO's internal memo: CITI WAS MAKING PROFITS!!! and there it began...

Now it's kind of like what was happening two months ago, except that it's completely the opposite direction. The whole sentiment is so going north that it ignores any bad news. I thought the stress test results would give bulls some things to worry but it looks like I may be wrong. I guess if we don't have big + bad news, the market will stay above 780+. I am holding my SDS onto next Monday or Tuesday with a stop between 885. If the market rallies beyond that point, I will have to give up on bear for a while.

Next week the big news would be the Chrysler deal, unless the Fed jumps in again ... ...