These are the setups I'm looking for.... Another thing is you have to watch expectations..... In the market you have to know what expectations are, know that trading is aligned with those expectations.... and know, Like with the Oil numbers this morning, that the risk was to the upside... That the trade was down all morning.... But... the oil short trade has been a stinker. with every pull back in oil and gas which causes a pull back in oil stocks... seems like every idle money manager jumps in long... So paring that trade has been a waist. And truth is Transports are where it's at these days.
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
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