So, this was a developed pennant and One could sugjest that it's goingto break out into a bull trap at the close.
the above is not a link.
the naz wants to break down, but I'd guess that it would be more neutral today.
Seems like with some end of the month action, that will give us a nice bump into monday morning.
but when the air starts getting thin like this... I'm super cautious...
Friday, November 28, 2008
pennant
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Back in QID at 74.69
and again at 74.28
knocking on 75 again
stopped out at 74.5, even on the trade, but up for the day.
It's what you get for fading me...
;)
Actually, I was looking at your SPY graph at 11:12 EST and it looked like you were predicting a drop into 1 pm. The upslope looks like it's after market close.
I thought the Q's would fall off the table at the close, I'm glad i stuck to my discipline and got stopped our of QID.
you were taking my chart too literally, I was just drawing some lines. In fact I had to look up what time we stopped trading, with the shortened session.
NOW you tell me! :0
all I can suggest is that we can have a pull back into some buying...
timing is the trick...
:)
DJIA and SPY are overbought. Looking for gap down at Monday's open. Got DXD at the close as a hedge.
Other issue: I'm looking at choice between CAT, BUCY and JOYG for infrastructure/Keynesian stimulus play. Do you have a favorite? CAT's divvy looks sweet and secure.
I'll get back with you...
I'm trying to stick with sector rotation...
Next up tech/retail... Unless that just happened... But then we look at industrials.
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