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.


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