Market Review and Potential Trade

Greeting Friends,
Just when you thought momentum was waning, Boom! We break-out again. Stock prices gapped up and kept going for another strong trend day that broke us up from the consolidation on the market daily charts. Yesterday’s move gave us our upside conviction so my model suggests that we rally to probably the 200 day now.

As far as today, I would be remiss not to look for a Turnaround Tuesday scenario since that’s what strong Monday’s often bring. I might look to fade any gap down or look for strength to carry over to this morning’s trading at some point to break yesterday’s highs before finding a reversal and sending us lower in the afternoon. That would be my model for Tuesday and we will have to see for the rest of the week.

My Potential Trade would be
GE Call 12 May 09
No stops

DRYS Call 7.5 May 09
No Stops, sell half at double.

Both call will be a good entry if the market gapped down on us tonight.
That's all folks, Have a nice trade