Tuesday, January 09, 2007

Tuesday Tuesday Wrapping Tuesday

Well what can I say except, good grief, Mary Margaret, what is going on? We go up we go down we go round and round and that was just the first hour. By the time I get around to trading I'm dizzy.

Didn't do very much today - watched SYMC go up and down and then up again. Another 19 cent day - wow - I'm on my way to Mickey D's and the dollar menu and I'm going supersize the fries.

DHI, the few shares I still hold, actually gained a couple of cents as well - 7 to be exact. BSX which I bought yesterday as a day trade because it was looking so strong, roundtripped a 60 cent gain and finished in the red. I sold it before it broke into the redlands. So much for my career as a swing trader. OK - so there will always be tomorrow.

I have no idea why the market imploded today but yesterday's action kind of suggested today's action as it normally does. And today's action suggests that tomorrow is going to be a huge up day.

The up/down ratio is still in neutral but a bit oversold at 45% and the new 20 day high/low ratio is well oversold at 37%. The VIX returned to neutral and everybody (DIA, SPY, QQQQ, IWM and GS (the stock market proxy of the 22nd century)) finished the last hour in the red. That normally presages a good day on the morrow.

My prediction - bull market.

The magic coin says --- tails again - still calling for the bear.

I'm calling today a bear market even though the INDU and SPoos went up. The miniscule amount was almost an after thought. So the tally is - Marlyn 1 and 1 - Coin 1 and 1. I should know better than to go up against a magic coin.

1 comment:


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