Wednesday, December 27, 2006

Wednesday Wrap Up

Well that was a great day. I sold off DHI about a nickle under high of the day and made a nice profit. I probably should have held it as I planned but the housing market is still shaky and I think I'll wait till January to see if I get back in that game. The one I should have sold off was SYMC - a complete round trip today - and you know how I hate that - wasting my opportunity on a stock going nowhere. I'm still holding HCC and added a half load on DIVX. Both finished in the money so I'm pretty happy with them. I took DIVX off of a daily volume increase but it went back to really low volume today so it's possible that I'm going to dump it early tomorrow.

Another record on the Industrials but we really could care less - it's only a headline. The real action happens down in the pits and that's where you and I play the game.

For tomorrow - the up/down ratio is 66% which is extremely high especially when coupled with the new 20 day high/low ratio of 83%. When they get up this high there isn't a whole lot left to buy so I think we go sideways tomorrow and maybe even a little down.

Four of the five majors finished the day strong and only the Q's finished red in the last hour and the VIX is back in neutral territory. It seems as if everytime the VIX sticks its head up 5% we get a couple of day rally and it drops down again quickly.

Magic coin blew today big time so he's 40-31 and for tomorrow says ... tails again - looking for the bear. It's a possibility.

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