there is a nice consolidation move here. There is always a chance of a short term top. I'd suggest that this is the nice pull back that suckers the shorts in. and will make them cautious at the 81 level. which is now 50 pts higher. Roughly 2 impulse days away.
Umn..... Volume isn't giving me one piece of mojo or the other.
Monday, March 16, 2009
Aversion
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9 comments:
Agree. Nice consolidation pattern. Look at 5 minute MACD on QQQQ and BMC... I see some bullish divergence. How much significance do you put on that?
Still hanging in there with WFC? Man, that volatility is going to turn your hair gray and make you look 38, dude. Up down, up down.
I have 70% of the position I started with.
Remember I picked it up in the 8-9 range.
But... I am looking to reload, then wind most of it down.
if you are going to trade volatility, trade volatility.
Pete likes Sprint (S), FWIW.
WFC certainly is volatile. I was going to scalp it short this afternoon, but took AXP instead.
I would be careful about going short overnight.
I used to have sprint, they are horrible.
The service is as bad as the customer service. I had to argue for 15 minutes to cancel. Then demand that they do what I asked, and stop arguing with me. at which point the rep tried to convince me how good his service was.
none of that doesn't mean the stock isn't going up. at least to that resistance. Remember things on the top of the list are more likely at a top than a bottom
I don't hold shorts overnight, especially with the market so oversold... thanks for the heads up.
I have Sprint-Nextel now and the service is lousy but they must be the low cost provider because my employer has everyone on it.
The TA of Sprint looks bullish, but I know that could change. Pete coverd it too in his daily charts. He's 30 now so I'll read his posts.
T-Lo has a podcast.
Behavioral finance and game theory:
Knowing forecast mistakes versus forecast errors.
The trader needs to gain an inferential advantage by interpreting common data better than others, ie, recognizing structural changes in the market before everyone else will enable the trader to make the right move for the right reason.
Maybe Louise Yamada was right for the wrong reason? I'm shocked.
Mamis: "Buyable bottom occurs only when everyone who wants to sell has already sold."
That was my summary of T.Lo's podcast.
did you want me to confirm what you heard?
Seems likely that in the morning "they" will lean on them in the first 30 minutes.... and we will see what happens.
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