Oh Bernanke....

Well...once again...stopped out to a disappointing loss. I thought I ought to add that yesterday, the market shot through the roof, Dow up 130 points. Luckily I went long as a final play and made back what I'd lost previously. I was really wondering how today was going to turn out with the EIA report and Bernanke testifying to congress about his feelings on the market. 3 really weird things happened today and I don't know why.

1) In the morning my trading software was reporting that there were over 30,000 offers in the S&P and Nasdaq. This number got as high as 100,000. This is odd because usually these numbers are around 2,000. These numbers would appear and when they would disappear the market would jump up against them and come right back down. Very strange.

2) As news of what Bernanke was saying started coming in, the indices felt like there was reason for a rally, as the news wasn't as hawkish as originally believed. In addition to this, there was a build in crude, distilites and gas. All this good news sparked a huge rally. The strange part about all this was that what Bernanke was saying wasn't exactly dovish.

3) I suppose, the indices realized their error and retraced. Unfortunately all of us mo-mos were stopped out. The strange part about the retracement was it started the second the "good" oil data came out.

Alas, I'm confused. But again...as I said yesterday...the indices are like trying to predict the behavior of a hyperactive kid playing dodgeball. Just not possible. I was happy I had my stops in well, this limited my loss, but the rally had been so significant I had gone max long which greatly increases the downside of a stop. I tried to predict the bonds based on the hawkish or dovish news, but I got smaked into a rail by the old man in the cutlass.

Live to fight another day...
My head hurts...