Mixed Market

It's only the second day of trading this year and already I have a headache! What was weak became strong and what was strong is now weak. I had a nice open short profit in QQQQ and watched it evaporate. I was actually heavy short yesterday but cut down my short position today ahead of the unemployment number because I didn't have much of a cushion anymore. I also wasn't thrilled to see INTC and CSCO so strong today. I'm still short but it's a small position. Yesterday Zen's Market Insights talked about how a weak Nasdaq during December is usually very bullish for the first three days in January. That appears to be what is happening now and was an excellent observation. I'll let the report come out tomorrow morning and then see how the market reacts.