Good Reaction...Lets see what sticks

We saw some good action off of the FOMC rate cut decision as well as GS earnings which us pushed us up over 5% on the S&P 500. The one negative is that volume was rather light and we closed right into overhead resistance. This leads me to believe that we will need to fill a little bit before a move higher. Anyway the action has got me shifting my investing strategy. I moving away from the day trading strategy and slowly starting to build positions with a bit looser stops. We should get a little pullback that will allow us to pick up some of our favorite names. The market is still very volatile and we will have to keep our position size very small in order
to deal with the swings. When we get through the 50 dma hopefully volatility will die down and we will be able to get a little more aggressive and get back to true swing trade style.