On Friday, T2108 experienced a brief encounter with overbought conditions (70% or higher). My favorite technical indicator reached as high as 71.3% before settling in for a close of 68.3%.

If you read yesterday's post and took action on our trade idea to short Oil Futures (/CL) at the $103 line, then you were able to pocket $1,000 PER CONTRACT in just 3 hours.

Wow, what a rally! Or, perhaps I should say Wow! What?, A rally??? It's a small distinction but clearly the fact that we are having a rally will come as a surprise to pretty much everybody – except the 2 or 3 people who run the machines that made the 62M in volume we limped into yesterday.

It's the "murderer's row" of economic BS today as, starting at 10am, we have 4 consecutive hours of Fed speeches ahead of the release, at 2pm, of the minutes of the last meeting (4/30), whose statement led to a bit of a sell-off the following week – knocking us down to the mid-April lows.

Top scoring weekly returns for the week of March 30, 2014: Buy and Hold 1 Year

The average mid cap score is 58.97, below the four week moving average score of 63.32. NOTE: Scores will shift to reflect Q2 seasonality next week. The average mid cap is trading -12.6% below its 52 week high, 4.58% above its 200 dma, has 5.68 days to cover held short, and is expected to post EPS growth of 18.9% next year.