The Video can be found here http://daytradingradio.com/10for1000

Well all time highs have arrived.. Now what.. seems like the market been waiting for this for week's now. I still hear a lot of negativity in the markets even using the new high scenario to spark a pull back. Now that crossed my mind and typically it is a method I trade (Sell into the breakout). But it just doesn't feel like the case here. This of course has to be taken on a defined time frame. meaning I am not expecting a string of positive days for the next 10 sessions but a healthy market that is feeling the beginning stages of over exuberance. This could build over time and when we can't hide from the fact that everyone needs to be in the markets.Then a big red flag goes up. Ask yourself is it better for the economy if the markets to continue to grind higher or better if it pulls back? Ask yourself this to, do you believe the fed has an effect of the markets? Well April brings the same action as last month and even if you are skeptical on the effects of the POMO on the markets. You have to at least think that there are a vast amount of investors that feel a bit safer knowing the fed likes to talk about how "They are prepared to do what it takes" I feel this is the true benefit of this bond buying. They established a time line and a set of rules on this open ended QE to infinity program that we are still a ways from. What I am saying is the music is still playing loud in this musical chair market and next week I am still very bullish.

One final thought.. We always have to be prepared for an event that moves the market. If there needs to be a catalyst then lets discuss some possible events that could lead or will be the next big event. I welcome all emails with your ideas and guesses. North Korea, another EU country financial crisis, or something closer to home. Send those emails in to ironaction@yahoo.com and I will go over them next week.

This week's watch list continues with great flags and HPS's As for this week's Kick Ass Trade it could go to a few different stocks but I am going with SWI. The Scalp set up on Monday will be announce early Monday morning.

Have a great 3 day weekend Happy Easter-Passover

DayTraderRockStar