Monday, May 7, 2012

Monday antics

No conviction on up down volume

Kind of a "screw the new shorts" day

Closed my Cable shorts yesterday, perfectly enough.  

Now cable has done a near perfect V retrace, which is a fairly new pattern at least to the extent that it plays out all the time....sheesh, the HAL20000 can't even be happy with a 78 retrace, now a full retrace to wipe out all the stops seems typical.   

QQQQ and AAPL will get a 13/34 EMA bear cross today.   Nothing that $50M of futures can't fix from your central planners, but nevertheless that is a big thing.

Back to bed from 90 minutes of sleep before my "day job" starts

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