Quarter end comes quickly …
Big March expiration over … was positive as many had to cover
Bank bailout details out … greeted positively, what ever the reason …
U.S. markets jumped up a total of more than 20% … anybody telling me, it is a bull market?
Some banks and insurance companies doubled or even tripled from the low … say CITIBANK
So … as the first quarter end looms and with it the H1 of the Japanese business year … Where are we?
We are still down on the quarter and seemingly still down around 10% for the year.
So .. what now?
I think, that the best guess still is … markets have NOT seen their lows …
If we are lucky … and I hope, we are 
We should see an end of the current run up rather sooner than later (as early as today/tomorrow), then a correction of around 61% of the recent upmove followed by one more up leg making it to around the levels where we started the year (give and take some points).
After the completion of that move (around August?), I await … NEW LOWS.
This might be then the final down wave before we start again hoping that the economy will recover “end of 2010″ 
Funnily enough … since 12th of March, when I turned negative again … I shorted every single day … and earned every single day money … Luck? No … just discipline as there is still enough gravity in the market.
As over the end of a quarter often some guys are FORCED to do something, I will do the opposite. I will reduce activities to a minimum and will use the next days for intensive research.
Take care and don’t get overwhelmed by the current up move.
Cheers
Oli
