Friday, April 23, 2010
Always Closing Strong
It feels like the last hour is always up. I don't remember the last time we really had a hard selloff into the close. It has to be a few weeks. We are at new highs and I am losing on my short. I don't really want to hold overnight into this kind of momentum. I am sure eventually the short side will pay off big. I just don't want to lose my shirt before that happens.
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5 comments:
I bought into China in the morning (FXI @ 41.69) and decided to hold over the weekend. I hope we gap up like I'm expecting.
So many bears have thrown in the towel with many saying the SP500 will just motor up more next week. I think it feels almost like capitulation day. Would not be surprised to see some downside mayhem next week.
Dawg, I sold my bear etfs when the market was 1190. Look I saved myself 27 points. But you did have a good trade from last Thursday to MOnday. But it's still a two steps back 3 steps forward market. 3 to 2 the ratio of up days to down days. Just buy dips for day trades until it doesn't work anymore. It will not work soon but I think it will keep working next week. Market is sweet for 8 point up rips almost every day. At least 1226 before the short. I think 1206 was supposed to be some resistance from back in 08.
Ya;ll wanna follow da Ol Dawg don't forget all my trades are on twitter.com/skang357.
We're gonna crash hard though. 1100 probably. Maybe that bottom from february at 1040.
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