Friday, January 12, 2007

Friday's Wrap

As noted earlier - after a month of holding for a better day I sold SYMC for an 18 cent loss - could have sold it yesterday for a half buck profit but nooooo had to hold it. Who would have suspected that good news such as an open portal to sell your goods to a couple of billion Chinese would be seen as such a bad thing on Wall Street. There is absolutely no rationality in this market.

I completed the first round buy on Glass (GLW) and also added to my DHI holdings. Not quite back to where I was but I will probably get there next week if they keep edging up.

Going to keep this simple today - the up/down ratio dropped back a bit to 56% but the new 20 day high/low ratio went ahead to 79%. That plus the fact that the VIX is 12% less than its 10 day moving average suggests a down day coming on Tuesday. Add to all of that the fact that the Q's, DIA, SPY, IWM and GS all put in strong white candles in the final hour and we have to say Tuesday is definitely a down day.

The magic coin says tails - also a down day.

Today makes Marlyn 3 and 2 and coin 2 and 3. We are not doing very well this year so far.

Later this weekend I'll show you the difference between a scalper special and solid investment and how to tell when to hold 'em and when to fold 'em. That's if Blogger ever allows charts to be uploaded.

1 comment:


Nows a good time to make a move in the market.