Wednesday, November 01, 2006

Wednesday Wraps Dallas

As I wrote this morning - Wednesday morning coming down. I played HANS and made some on it off a dip caused by Cramer bless his heart. He isn't the sharpest tool in the chest but he sure is entertaining.

It was an old fashioned "what is this stock doing way down here" buy and it worked out. The morning of course was a whole lot different from the afternoon which turned out to be a shortists wet dream.

Tomorrow is simple enough up - up - and away. Why? The up/down ratio is 29%; for the first time in over 29 days the new 20 day lows out number the new 20 day highs (585 to 357); and the VIX is actually 5% greater than its 10 day moving average. All three sisters finished in the white in the last hour of trading. There is nothing more to say - there are stocks to buy and the money is going to be coming in from the IRA and 401K crowd.

Mr. Majestic is 25 and 12 having nailed today perfectly and for tomorrow ... tails again - I can not agree.

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