Thursday, December 21, 2006

Wrapping Wednesday

Great day! I didn't do much trading - just watched a bit, wrote some new posts and, what else, went shopping. I think we are almost done but I never factor "done" into this calculous because "done" implies "finished" and my bride never really is. I'll be scurrying around on Christmas eve trying to find one more wingbootentooter for Aunt Millie or some such play pretty as that. No I don't know what any of that means I'm just tired. But the stores were a whole lot more crowded today than they've been in awhile so maybe everyone final got the memo - 3 days left.

Still holding SYMC and doubled up on DHI. I do that on the second day of a trade sometimes if I expect the trade to go up - which I do.

The up/down ratio sits at .36 which is in oversold territory, the new 20 day highs peeled off 100 to 381 and new 20 day lows went up to 604. Another great sign because that means that there is actually something out there to buy. The final hour saw a mixed batch with DIA, SPY and IWM finishing with white candles while the Q's and GS finished red. Doesn't matter - volume tomorrow should be in the single digits. The VIX has withdrawn to the neutral zone and that means no volatility for the options guys or the day traders either.

I'm looking forward to a quiet day tomorrow regardless of any news. I just saw that RIMM is up 6 bucks and change after hours on its great profits last quarter so that might serve as a bit of a catalyst for the tech area tomorrow - we'll see.

Magic coin is now 39-29 having called today correctly so we'll give him another chance to make a fool of himself and calls for tomorrow ... heads - bull market. I suppose it's possible - two down days in a row...

No comments: