Friday, November 24, 2006

Friday Wraps Up Early

Early day - we didn't do much - added a bit to our GM trade from the other day and began a swing trade in AMD - other than that nothing too exciting.

This was a strange day - started out down then went up then went down again. Goldie (GS) kind of set the tone for the whole day - gapped down nearly $2 at the start, went down from there for the first 15 minutes losing another dollar then turned around an went up for the next couple of hours until about 11:15 when it reversed again finally finishing the day off 19 cents. All three sisters, the ugly stepsister and GS, the proxy for the stock market of the 22nd century finished the last hour in the red - which, believe it or not is a good sign. The VIX pulled way back into the neutral zone and the up/down ratio prints 40%. The new 20 day highs pulled back again but remain above 600 at 672 and the new 20 day lows also pulled back to 135. Believe it or not but all these things together suggest not just an up day on Monday but a strong up day to boot.

The magic coin is 33 and 20 having missed today and for Monday says ... heads - bull market - well we think so too.

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