I'm still hacking away at charts.....
I saw fast money.....
I suggested that maybe the XLF would make a stand before 24.......
and it did today.
As people rotated out of materials and into financials and consumer names.
I expect this to be the trade through the fed meeting next week.
I watched some of "fast money" today... and there was an argument about what happened today.
Everything opened lower... all sectors... But quickly Financials and utilities recovered....
Materials and energy were very weak all day (for no good reason, except the fed isn't going to cut more rates). After that Technology started to recover, followed by consumer and Housing Crap..... After the XLF ran to 26.50... it was tired and gave up... moved back to 26.25? I think... and we have our day.....
so, the fast money folk who tried to convince us that it was consumer or tech that lead the rally..... NOPE.....
This all fit into my thesis about financials breaking out..... and it's a distinct possibility....
but I am talking my book.
The carts are great, I'm just getting overwhelmed with what indexes to put in them..... I have all the US DJI sectors in one chart... it's like 140 indexes to track... Also all the wilshire indexes... I didn't even understand the wilshire indexes till now...
I love the charts and they make it a bit easier and faster to understand what is going on in the market...... Maybe the next project is to make the charts query my stock servers......
I had a buddy who wanted to build his own quant once.... I'd argue against the quants... especially since... it's kind of about putting together what is happening... as a series of events... putting all the pieces together and calculating the outcome.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Thursday, April 24, 2008
Bla
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