i know what you mean d/o, im trying not to let the last two days mess up my thinking, i was extremely bearish after cisco article and didnt get positive until retail sales number, if barons doesnt drop a new bomb on us over the weekend, i think monday will be fine (volatile as usual) but
upside bias will be intact till after fed meeting, big question will be after initial spike down, then spike up after 1/2 point rate increase tuesday, what will drive us?
i think we are still locked in a trading range, and i think the top of this range is about 3800 , i will be selling into rallies till i see the breakout, but i sure had a lot more fun thursday/friday than the first three days, so it is easier to be optimistic, i try to recognize greed, and when that sets in, its time to sell, when i start going for 10-20 point moves instead of 3-5, i know we are close to a top, right now, im still looking for 3-5 or less moves, but just based on history, the month after a big decline (april) is usually up (may), at this point, im cautiously optimistic, but i think the next trip down on the trading range will break 3400 imo
but monday i am riding a and avnx hard!!!
good luck |
