Wednesday, April 04, 2007

Ruby Tuesday - II

I bought RI a little after the open. It fell to S2 and printed an RSI(2) < 2 and so I decided not to wait any longer. We'll see how that turns out - if it gets to PP by COB I'll add to the load.

Doesn't look to me as if the market is going to do all that much today. It seemed to like the job cut report and that made the pre-market go higher.

The specialist opened JTX way high to stimulate a short squeeze and it has been falling ever since. I wouldn't buy it unless it sets up as a BOB or sits on a pivot point. It doesn't look like it's going to do either for awhile.

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