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.
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, August 26, 2008
Fast money
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