Wednesday, August 02, 2006


Well I got it right today. Had MDRX and PWR and rode them up for nice profits.

Dumped BGO shortly after the open as there wasn't any gap up and instead it just started drifting down. I'm flat going into Thursday.

Although the market gave back some of its gains this afternoon the three sisters (Q's DIA, SPY) turned in white candles again (like yesterday but not as strong). But unlike yesterday they were coming back from red candles in the 2 P.M. hour. That shows some continuing interest. The up/down ratio is 57% which isn't too bad - the new 20 day highs however are over 500 at 649. That doesn't mean a crash coming but it does mean fewer stocks look attractive as buys.

We get the retail report tomorrow and it is expected to be bad as does the labor report on Friday. I don't pay much attention to these things because there is absolutely no correlation with any of them and market reaction. I know - I know - so why does crapvision spend so much time on them? Maybe because they don't have anything else to talk about in between commercials.

Good trading everyone.

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