Market overview for April 2

Today, once again, I had issues with eSignal application in the AM and late aftenoon just before the close. I missed the very first signal of the day (the first 15 minute bar). I had a bias towards shorting the market as we were gapping up right into resistance and last week's highs.

I attempted a low risk short trade (highlighted in the red arrow) as rejection of R1 in the SPY (and ES). However, I was stopped out for .50 loss on SDS long. I also attempted another short which also did not work and broke even on that one. It was time to step aside and look for entries to go long the market. My patience paid off as I got a signal to go long at around 1:15PM - so I shorted SDS, good for about .80 profit. I also scalped SKF long a couple of times but ended up with a scratch as the last hour was quite volatile - this is where one should stick to their plan! Financials were not very strong relative to the market, so it will be interesting how tomorrow plays out as the March unemployment numbers come out. We have again gone up too far too fast, so we'll see if the buyers will give this market a chance for a breather.

RIMM is on fire in the after hours and I almost took a trade long but did not pull the trigger. It was up over $10 in the late session. We'll see how it plays out tomorrow.

Good luck!