Tuesday, December 26, 2006

Tuesday's Wrap

Not a bad day. I'm still holding SYMC and DHI came profitable at the close for the first time since I took the position. I'm not holding my breath - it will take some time.

I took a quarter position in HCC this morning off the 8 EMA crosses the 21 method. It dropped a bit on the open and I took it in the second 15 minute increment. It finished up. I doubled up around 1 P.M. and am looking for some more upside tomorrow. If I get that I'll double again. I'm trying a new method where I'm "layering in" I don't know if it will do any better than taking it all or none at jump street but you never know until you try.

No day trades today. I'm concentrating on the swingers. I know I missed a couple of real good ones though (AMR) so maybe tomorrow I'll take one or two just to stay sharp.

That's if tomorrow is a good day. Right now I'm guessing it will be about like today except for the fact that the prime indicators, the up/down ratio and the new 20 days are once more in bear mode.

The up/down ratio is printing 59% which is high and the new 20 day highs are 62% of the total of new 20 day highs and lows (a new way of looking at this number). The VIX remains over its 10 day MA by about 5% and all five of the majors (which includes GS) finished the last hour with strong white candles.

The magic coin is 40-30 having hit today square and for tomorrow says ... tails - bear a comin'. Stupid coin is still doing better than Cramer.

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