Tuesday, February 27, 2007

Shuda Picked "Crash"

But I said "We are going to have a boomer tomorrow or a crash - I'll go with an up day."

That was after I said that the INDU ATR had slipped below 80 again. Now there was no reason for that to happen unless ...

Oh well - the first thing I saw as TLB drop to 20.24 from 25.90. I instantly tried to buy every share available - but - guess what - nobody was really selling at that price so now we have a false spike in the data and that just screws up the charting.

But I did double up on LQDT and am already showing profit there. The market is settling and even coming back - the Q's are already 27 cents higher than the low of the day and going up.

My worst holding right now is WIT and I'm probably going to dump that one later today if it doesn't recover some.

I said we needed a nice blow off and with any luck plus some perseverance on the part of the bears this might be it.

LQDT just flashed green after being down 90 cents. (10:17).

What a day its going to be - a lot of opportunity for the day traders and not on the short side - everything is so overblown it's cherry pickin' time.


Bullish Jim said...

Wow, wait a day. I don't know what to say. Any words of wisdom, Marlyn?


Crashes are part of the markets.