Can you say Bull Trap

We got back onto some straddles a couple of weeks ago expecting a breakout from this boring trendless market the last 2 months. And a breakout we got on Wednesday that got the bulls and us excited there. Thursday and Friday put a damper on things however making it sure look like a bull trap.

As you know I continue to be bearish expecting new lows in the future. The dailies are now looking more and more like the time is right.

I will continue to hold the straddle, and am ready to short this market. The stock plays are primarily on the short side, currently short EBS and HPQ.

A sucker for the odd spec play I am long GERN after the stem cell injection approval last week.

As far as commodities, gold and silver are the only place to be long now. I was starting to get excited about oil and the grains last week when some signs of a potential bottom were forming, but still need a little more excitement here.