Tuesday, September 26, 2006

Rap That Tuesday

Interesting day - started out strong collapsed under the weight, rolled over and went up. I played VRSN but entered too early so I didn't make as much as I could have had I waited. Tomorrow I'm waiting. If I don't make a play then I don't make a play but I am going to wait it out.

The interesting thing is this - when the three sisters go parabolic first thing out of the shute you generally expect them to roll back for awhile and that is what happened today. Nothing less nothing more. This is what it looks like. The third candle linked with the first two indicates a too strong opening. Then it looked like the price was going to retreat to EMA 8 but the open was so strong it went all the way to EMA 21. When it bounced off EMA 21 you could be pretty sure that it would go up the rest of the day.

We have mixed signals - the three sisters all finished strong white but that is a weak signal. The VIX remains neutral and that is a nothing signal. The up/down ratio retreated 2 percent today to .54 but the new 20 day highs extended by a hundred plus to 746 adn the new 20 day lows decreased to 237.

I think we are going up again tomorrow because I think the week of the month and quarter trumps everything else. The fund managers have an opportunity to make some points and they aren't going to pass the chance.

The magic coin is 13 and 2 having hit another homer with today's bullish behaviour and for tomorrow -o-o-o- heads again another bull day.

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