Thursday, December 14, 2006

"Suckers rally"?

Pardon me saying that, it is more difficult for me to say than for most people, I am eternal bull, I believe in progress, I practice O'Neil way of looking at the markets, but... somehow "all time high" with 99 points move with NO SUPPORTING volume does not look so good to me, beside - I knew that it will happen today, of course I did not know magnitude, but as you can recall "weather forecast" predicted "good day on the market ( tomorrow morning will be positive as well - till noon ? )

Every expected and hoped for breakout was quickly and orderly brought down by steady selling into the strength ( that is what I was doing too), looks like major/experienced traders do not think it'll last ( upside move it is )

Still, while we don't have confirmed move to the downside I have more longs on the watch list than shorts - here they are.

long: (NANX) (RDWR) (SFUN) (SWSI) (VDSI) (CRXL) (EVEP) (FIZ) (GCA)

short: (LUM) (STKL)

I'm in the "holding pattern", but will be watching very short term trading opportunities as they present themselves.

Or, what the heck, may be I'll just take vacation till New Year

HAPPY HANUKKAH!

0 comments: