Next Market Stimulus - Obama Stimulus Package?

The market had climb up nicely since my last posting. Notably, it climb up significantly higher yesterday despite the worst unemployment figure since the last 17 years ago. My long positions are doing well thus far. I still have Calls on SPY and QQQQ as well as Bull Put credit spreads. The targets mentioned at the last postings remains valid.

The market is actually anticipating the approval of the US$800 billion stimulus package by the U.S. senate - long overdue. How exactly the market reacts after the approval remains to be seen. At the moment, the momentum is still there and we could expect the market to continue its climb. Like I said before, I am expecting a short rally perhaps up to end next week, if not earlier.

I was always asked, what stock should I play now. Typically in a short rally like this, it should logically be stocks with good fundamentals that can withstand the current economic crisis. However, this short rally also gives the opportunity for the weak stocks to pick itself up before continuing with its downtrend. If for whatever reason we could not find a stock to play, then just focus on SPY and/or QQQQ as I do now.

Cheers !

PersianCat (Millionaire-in-progress)