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

"Sell down to your sleeping point"

Saturday, May 24, 2008

Tale of the Tape.....

10:45

3 sectors scraped their bottom at roughly

9:50, 10:45, 11:15


KRE(regional banks)

XHB(Home Builders)

XRT(Retail)

Obviously Retail looks the strongest... of these charts. Notice these are the most Beaten down sectors

11:30

BioTech(XBI)



SMH-Semi Conductors



Oil and Gas Exploration XOP





Energy(XLE)

Materials(xlb)

That Blue line is the VWAP, the higher it is above the stronger it was on the day.


1:00



Consumer Discretionary xly


xlk- Tech


xli-(Industrials)

I also am showing the 10 minute charts, in the above charts to show the MACD divergence.

2:00pm

XLP -consumer staples

If you notice, the xlp played with it's Vwap all day... and did bottom more at 10 than at 2pm.. overall it was a flight to safety. One of the best sectors today


Health Care XLV

and finally the XLF.

The real dogs on the day continue to be Materials and Energy, I was looking through. some message boards... it's a classic every idiot rushed into materials and oil. and now it's all ready to start legging down. Never Chase a Trade.......

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