Oh boy I wish I had passed on today - but nooooo I had to play GLW (Corning Glass). I took a position and watched it drop a bit - I doubled up and watched it drop some more - I said no matter it is bottoming and will come back - well it did - but only after the specialist running the book ran my stop and about a thousand others - in the space of 3 minutes he round tripped 3 million shares taking out a whole bunch of stops including yours truly - end of the day - GLW finished in what would have been for me a profitable area. I wish I had passed but more importantly I am a fool for using a stop on a volatile stock - but GLW is not a volatile stock - today was its most volatile day in about two years. I'd say a bad word but it wouldn't help.
GLW has bottomed and tomorrow it will go to the sky - I'll be there - and this time no ill timed stop sweep will catch me out.
Tomorrow we can expect more of the same - except that earnings this evening are coming in strong and righteous and I think we might even go higher - the three sisters all finished the last hour in the green - the up/down ratio is neutral at 42% the new 20 day lows actually added to their anemic total and are up to 272 while the highs are backing down to 731. The VIX came back into neutral territory and the magic coin - 23 and 10 having picked today correctly - says for tomorrow - tails - the bear is about.
We'll see.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment