Tuesday, September 19, 2006

Tuesday in a Wrap

I love it when a plan comes together. Actually I had some things to do this afternoon and I left about 12:30. In my absence JBLU went up. That was because oil came down - at least for most of the day. Oil (in the persona of XLE) now appears ready to go back up. Hopefully when the FED announces I'll be able to get out of JBLU with a substantial profit and those of you holding oil will also make some.

Tomorrow is looking like a good day - the three sisters all finished the last hour strong and the VIX is back in neutral territory as are the new 20 day high (453) and the new 20 day lows have increased significantly to 367. The up/down ratio which I feel is the best tell of all is at 36% and that suggests a big day a-comin'.

I'm not a perma-bull nor a bear - I'm just a trader and I play the market the same as my golf ball - as it lies.

The magic coin is now 8 and 2 since it predicted a bear market and every index went down today. For tomorrow ... bull.

This is no bull folks - I spin the coin once a day and where it lands is where it stays until the next spin tomorrow. We'll see.

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