Friday, June 24, 2011

Cover and Buy

3:45pm:  Strong buy signal confirmed.  Covering shorts and going 50% long on the close.  Keeping 50% cash in reserves in case of another buy signal next week. 

10:24am: I am seeing a good chance of a buy signal today. In fact, if the market closed right now it would be a strong buy signal.  Of course, we are only 1 hour into the trading day so lots can change but just a heads up that we could be flipping signs at the close.  I really thought we'd be up today so this first hour weakness is a pleasant surprise.  (The market is illogical - don't trade based on what you think or feel.)  Good luck all.


  1. $ has recovered from Greece news and is back at its downward trend line. The market is doing the opposite of the $
    as right now the $ is backing off of its trend line and the market is bouncing back up. This is short term day action not a long term explanation.

  2. This is going to be choppy until the $ moves or another wild news article hits the wire from a day trading perspective.

  3. J-Trader:
    Please see my comment on

    Thanks !!

  4. So, bought a little (don't have much not already in settlement) UPRO at 69.61 so lets see if we get some gains next week.

    Have a great week-end !!!