5:30 AM ET
It’s an 80s dance party. Let’s get high and dance!
2-3 day and 5 day cycle projections all 3735-3750. First they gotta get through resistance 3715-17.
lick to engorge
3700 is now support. They’d have to break that to get anything going on the downside, and even that wouldn’t get far before hitting stair treds.
I don’t know when this thing is going to unload. Yesterday I came in 85% long, and got a little crazy mid day getting to 45% short. Mistake. It cost me most of what would have been big profits yesterday. I spent the last hour cleaning up my baby poop.
This is the curse of the preternatural bear. Psychologically it’s hard to stay long for long.
By the end of the day I had repositioned for today’s session by getting long a few of the stocks that my screens had spit out on buy signals yesterday morning. I am 6 to 1 long/short. We’ll see how that goes.
I am currently running screens for possible movers today.
6:35 AM ET
Hourly indicators are on the sell side and we’ve come to the uptrend line. As long as those indicators are above the zero line, I don’t expect them to amount to anything. The trend is still up.
Join me during the day at the Stool Pigeons Wire!
For the big picture outlook and chart picks- Confuse Us Say: When River Flow Uphill, Bear Must Float
