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"

Tuesday, August 26, 2008

Fast money

hey, Sorry I have a case of the Mondays..... the idea of this sliding retest, rollarCoaster... has me Nautous Too.

I caught 4 minutes of Fast Money......

Sure sounded like a "Buy the dip" on Tech over there....

I don't know.

teranova has capitulated on oil...

My Charming Aversion....... Here is the bank index... and this just looks like a Bear Flag. There is potential of "something Developing"... but seems like the danger is to the downside. Maybe it will go a little lower and build a base. Shows a very unhealthy Decending Triangle, weak strength.

now here is an individual chart, Many of them look like this. This isn't a bad chart, Relative to the index. If the KRE looked even half as good, I could be more optimistic.... And like I said, the xlf was trying to show leadership..... But... This could absolutely go sideways for 8 weeks. or just have declining volatility, and a Tightening Range over time.

I think there is lower hanging fruit... or aversion is shaking me out.

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