Wednesday's Update

I'm still bullish here....although I do not hold any long positions. I'm day-trading futures from the long side only......The market is trying to find a direction. We are seeing a lot of selling around the 950 area but every sell-off is being bought. Unless we see a close near the low, I will not be too worried. As I had suggested earlier, it might be a good idea to sell some so that you are not using margin.....Margin should be used at support only and should be decreased as markets approach resistance.