John, Great Observations!
Didn't see that Doji!
With the Phleet mainly in port, I can afford to root for Gersh!
To me, sitting up here on the 18th floor, it is real simple. It looks like a breakout, walks like a breakout, and quacks like a breakout; but is it a breakout!
I've switched to the SnP for this one. It's very clear to me. The pivot points are ~1480 and ~1438, and we sit right in the middle. All we really need to watch are those two pivot points. A close above, go long; a close below, and be short.
That said, I believe today will be the fake out, shake out. It's clear that the shorts are getting bolder. Some of the new Q's dropped 10% in the last 90 mins yesterday. The new high, new low scenario becomes important. A lower high will simply set up Don's Day three pattern for Thursday.
Personally, I'm glad that I'm flat. I'll just watch which way this one unfolds. It really is hard to believe that we are negative for investment performance YTD. However, my youngest is happy as I've commited this quarter's Phleet performance to his car fund. BTW he blew away the SAT's with a combined score of 1420. It seems that this result is good enough to get him into anywhere he might want to go to college. A father couldn't ask for a better kid; a really nice combination.
TB |
