I managed to get out of RBAK this morning just ahead of disaster and then, 45 minutes into the day, put another trade on and lost what I made from yesterday. That was just pure stupidity nothing else to say about it. Didn't even have a good set up just didn't believe it could fall that far that fast without a bounce. It didn't bounce for another 2 bucks. I was out long before that but good grief what a maroon!
I won't be in for the rest of the week but based on my reading of the tea leaves it looks like tomorrow will bring a turnaround. Up/Down ratio sits at 21%, and new 20 day high vs low shows 251 to 356. The VIX, while not completely, is nearly 10% higher than its 10-day average.
The three sisters are showing an interesting formation - in the last two hours of the day a white candle or doji below the 21-period EMA. This is proving to be a winner in single stocks as well and I plan to expand on it in the near future for your edification.
Hope you are positioned for it. So let the record show that I'm expecting a bull market tomorrow.
The magic coin is now 2 and 0 and for tomorrow - tails - a bear market. OK - we'll see.
And we'll see you all again on Monday.
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