I had a great day.... I took some off the table.(because I'm trying to be good about risk management, this is 3rd wave... and it could be over.. Futures will be up in the morning... and I'll pull more off right off the bat.
We are up at that second resistance.. we moved through it... maybe it's acting as support..
More to run, and still that possibility of a massive short squeeze.... Again that step before the big sell off, is usually the Bears wanting to jump off a cliff as well as the bulls...
Maybe I'm wrong and we just reverse here...... I Don't Know! but it's not my thesis... but I'll keep an eye open for it. we did hit 27 vix... maybe without a crisis trade that will be it.... but, I'll count on some form of a retest...
I'm tired
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
Tuesday, July 8, 2008
Well
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