Update 04/29/09

The S&P gapped down on the open, and then immediately rallied. Interestingly, it appears that it didn't actually fill the gap from Friday, leaving an island gap on the way up, but this could just be a bad print from the quote provider. After hitting a high just before the final hour, it closed right about where it closed yesterday. Just a choppy couple of days. Here is one potential count for the action the past two days.

By this count, on Friday we began the C wave, marking the final phase of this sideways correction. For this count to work out, the S&P would need to start sliding within the first couple of hours of tomorrow's open. Tomorrow the Fed announces its interest rate decision at 2:15PM ET, and this has moved markets in the past, both up and down. We bought MZZ near the open today.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Additional Exit Guideline	Chart
DGP	18.68	18.61	-0.4%	17.96	N/A	Chart
GOLD	45.56	47.64	+4.6%	46.14	N/A	Chart
DXD	55.67	55.54	-0.2%	53.99	N/A	Chart
TWM	53.67	53.14	-1.0%	50.74	N/A	Chart
MZZ	46.23	44.95	-2.8%	43.68	N/A	Chart

Since tomorrow is a Fed announcement day, no new ideas.