Tuesday, August 29, 2006


Interesting day. I missed the second half but that was OK because I hold a position in INTC and PALM and intend on holding them for awhile. Both went up just like just about everything else this afternoon.

Now that wasn't really a surprise and later I'll post again and explain what I am talking about. For now we should probably expect more of the same tomorrow - that is - total chaos and confusion.

The DIA and SPY finished the last hour in the red and the QQQQ finished strong white. The VIX remains in neutral territory and the up/down ratio actually came down from yesterday to 58% while the new 20 day high/low stats stand at 1030 to 154. There is no way this market can keep going up under all of this pressure and I think it will go up tomorrow and Thursday (end of month stuff by the funds) and Friday, because most of the traders will be going to the beach it will come down.

No comments: