Wayne, that's what I was trying to tell these guys. The only
thing I'm not sure about is the options aspect. Expiration
Fridays are somewhat of a mystery to me.
So, Monday, we may get a slight gap up, but we probably won't
be getting any major upward move before we do some minimal
type of consolidation.
As you said, though, put those buy stops in, in case the stock
unexpectedly starts running up. I doubt it though.
My gut feeling is there is much profit to be had by the forces who like to consolidate/accumulate. Sure, this trick may not last much longer, but I think it has one more cycle in the left in the bag.
IN FACT, it's very possible that last 1/2 of the day was just
accumulation of "enthusiastic buyers" which can be "suckered"
into panicing later on. IMO, a lot of retail buying was done
after we hit 39 to 39.5, and these buyers are going to be easy
shakeouts when the price drops in a few days. |
