Swing Trading Strategies & Stock Picks Since 2003

Today the market figured out that no matter how much they want to really believe that the bad news is already priced in, hope is not a viable strategy. With today's ugly breakdown (which also took out the 50 day moving average in the S&P), they've pretty much given up the bulk of the April's Fools rally that got everyone so excited.

For the week, the Dow lost -2.25%, the S&P 500 -2.74%, Nasdaq -3.41%, and the Russell 2000 -3.58%.

The good news is at least expectations have at least come down a notch ahead of other earnings reports we'll see next week and beyond. I'm sure Wall Street's PR team will be working overtime this weekend to convince everyone that this is yet another "you must buy the dip" opportunity. That's the one thing you can set your watch to even in this market.

Now it is time to watch the Master's (or whatever you like to do) and enjoy life for a couple of days. Remember to get as much rest as you can this weekend - we're all going to need it come next week.

* P.S. People send me links all of the time, but I had to laugh when a friend sent this to me this afternoon! Enjoy!