Went long the DIG, wants to trade to $34, put stop $21.65.

I think we have hit the bottom this year. Today with the MASSIVE down ticks the US index futures and Asia down almost 10% across the volume was still lighter coming down. Look at the numbers below from Yahoo Finance. This holds well for the bulls out there. I am long QLD, SSO, DIG, DGP and short on UUP.

All gains above 10% today except for GLD…not bad. Like I said in my last posting the market will head up this week as investors come back in for bottom picking in the oversold market.

A reader asked about DRYS and JASO which I think look like good buys. Of the two I like DRYS better on a technical basis for a trade. For a solar play I like ESLR better on a technical basis. ESLR is a buy here around 3.40 and wants to head up to $5 then $6.50.

DRYS has good support $20-22 and should bounce up to $40 then to $60 longer term.