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

"Sell down to your sleeping point"

Tuesday, March 9, 2010

Feels like a downswing to me.

We had "The full Monty" yesterday, Which included, The usual suspects, coming out and saying "We are going much higher.", We had the "BULL Vs. BULL" Debates.

Regardless of if that might be true, "Its worth a Downswing."

"On what Time Frame?" you ask.

I would think, we could at least test that Big Wedge. With 105million volume, yesterday, I have to admit that for some reason I don't have clean Volume data for yesterday, but I think 105M is close. We should be able to test the other side of this, At least.

I would also suggest that we need to break out of it, and we will see how it handles. This could be the First Lower low, followed by a lower high. Or this is "Wave 4", then we can build a top, end of the week.

Let me also end this post by saying Options expiration is next week, and this Friday/Monday would be an excellent "pivot" point, using my historic models....

But Everything feels like "Everyone is all in" waiting for either Options expiration, or in anticipation of the "BreakOut"....

Time for the "FakeOut"

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