If GS is a proxy for the market then the market did well today as did I. Took positions in AMR and DHI in the midmorning time frame and made some from both of them. This patience thing is really paying off. DHI and AMR are old friends and if I have a choice between stocks I know and stocks I don't I'll usually go with the ones I know. It is comfortable that way. Both trades were taken off gap-down set ups - AMR off a piercing arrow and DHI off a narrow range bar followed by a red hammer on the 15 minute charts.
Tomorrow is shaping up to be more of the same - let's face it no bad news can possibly shake this market.
Two of the three sisters finished the last hour strong and the third, Q's, did a doji dance. GS finished up strong. The up/down ratio sits at 50% which is a big Idunno and new 20 day highs increased to 866 as new 20 day lows remained low at about 184 only 4 different from Friday's close. The VIX remains neutral but what's new with that - volatility as a whole is down which suggests more of the same more of the same more of the same.
Meanwhile silly magic coin is 17 and 5 having called today correctly. I wrongfully gave Friday to the magic coin and shouldn't have so I've had to back it off at the top and add on to the bottom. Still impressive all told. For Tuesday - tails - the bear is coming - just as well as I'm taking the day off.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment