Tony asks, what I see some times.... Ok, we had a first bounce out of the banks. we had a few days of minor consolidations. We hit a first target yesterday. Then had a major consolidation our first one. What we want to see, if for the stocks to have a low volume pull back, into a volume spike It should move up to that Trend line, and "Play with it" meaning Hit it, and follow it back down.... THEN we are looking for an upmove off of that trend. That is the good entry.
This follows for every stock after a major consolidation.
let me add some market stuff. This feels like a market nobody wants a part of. That feels good to me. But I expect CHOP, CHOP CHOP. I also will take the Gartman Tact... I want to be "Small" Moves are big. I have expected this for over a year. Once we have some kind of Consensus, to "range bound" and "Choppy" then we can move UP.
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
Friday, February 27, 2009
Was it yesterday?
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