Market Wrap Up: 4/04/2012

Great day for those of us that are short the market. My call for a top held perfectly. I think tomorrow will be an up day which will be perfect because it will allow us to short even more. Any bounce will be short-lived in my opinion. With that said, I don't think these markets will go back to re-test the recent highs. A 50-78.6% retrace will be the time to jump short again. If the SPY retraces back to $140.80; I would look to go short and enjoy the ride down.