apparently the reason for the rally is because people want the safety of treasuries still.
in bizarro market flight to safety is a good thing...
but we have seen stranger...
the good news is...
gartman is back to Long things you can drop on his head....
Thursday, June 25, 2009
good news
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The h/s formation was tolerable with a push to 91.70 or so, but now back to 92 and if it goes to HOD... it will be annoying. It has to be head-fake, but I keep looking at 92.50 as the right shoulder of a bigger h/s.
it's very messy...
I have 10 zillion targets as high as your 92.5 or even 93.
but it's not all that clear...
On Monday afternoon, I would never have guessed we'd be back at Fridays close this week. I'm glad I took profits, but should have taken more. Geez.
it is going to be key to take profits..
and to put the energy into day trading...
being the fast money for the next 2 quarters will be where the money is..
that move to 850 is nice money...
but if we shake 100 pts up and down every day for then next 3 months there is more money there.
It's not the energy I lack, it's the mojo. So many patterns and I have not seen enough to turn a dime since Monday. Zigging when I should be zagging.
I'm done til Monday.
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