This is what it looks like to me. It looks like the market wants to do... Just about anything... anything to defy every one's trading Strategies....
As I've suggested, the 4th Standard Deviation Costanza market.
Though we now have the possible Thesis that we had Buy the dip, and that we will make a new high... I say that the market will Evade this.
I think the new strategy will be for in a 2 day period.... to catch sentiment, and play against it.
2 day sentiment Swings...
And We may have to throw out all the chart books and Osolaters and trend lines.... Give it up and ride with the Zen....
I'm ... You know I've been on Green Tea all week, and I made my first pot of coffee this morning. I'm on cup 2 ....
I have a Wedge on the Tick Ratio.... so... I say we still go up, even though the SMI is going Ballistic.
If you don't realize in 6 trading hours we have moved 30 spx points... which is so Overbought.
what I'm looking for ... For a pull back, will be absolute Crisis among the bears
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, April 24, 2009
time to get my head back in the game!
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