The markets were very dull (less than 10 point move nasdaq intraday) and volatile intraday, making no progress that helps us analyze anything differently than we did yesterday.
I guess we wait till Alan sings his tune, then we can get back to worrying about something else.
All in all, a weird day. I had many new longs act well then, on the other hand, had many that reversed or stalled on HUGE volume. That is very negative. When breakouts start failing and reversing on heavier volume than the breakout, you have weakness in the market. Also, a lot of gold charts came up on my scans today and are near or breaking out of good sound bases. Not sure if that is good or bad for market. Do you? However, so many of my longs still look good and are acting well that all I can say is Huh?. Whatever happens, I am ready.
New Swing Longs: IMGC ABX GMRK ORA PANL ALTI IVN AWRE
Swing Long Positions With New Entry: Not posting this tonight. Too many. When you buy any breakout in this kind of environment you want to make sure you buy within the 5% pivot point of the top of the base and cut your losses when you are wrong. Just a reminder!
New Swing Shorts: SIVB CBRL MTLG PLUS PKZ
Aloha
3 comments:
I have a quick question - when you post, is the time you post in your time zone? I.e., do people in the Eastern time zone add six hours to the time it says you posted?
Just wondering. DENN looked good today!
Yes. But no matter where you live it doesnt matter. Swing trades dont have a "must buy right here right now" condition about them.
Yeah, very true, I was just wondering so I could remember when I need to check your site.
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