HNV
David,
This is exactly the time I tend to take an HNV position: Recovery from the last failed attempt to breakout, consolidation in the day's high/lows on good, moderate volume. So far it's been the charm.
But with this market, it's so-o-o-o-o crazy out there, I can't bring myself to buy anything today. Maybe Presidents Day will calm these whacky traders down, but I doubt it: I was up in NYC yesterday. Every person I've ever known has become a day trader, and most of these people didn't know the difference between a stock and a bond six months ago.
Something's got to give: The market ALWAYS cleanses itself of this kind of "exuberance." Maybe that's what's happening right now:
"I say, Hubert, they're giving Level 11 and 800 percent credit to any rabble-rouser with $10,000 in his filthy jeans pocket. How're we going to keep this little game going with such scum bollixing it up?"
"Simple Allred. Just hit them with a few corr-rr--rective days and they'll turn belly-up in their estuarial cesspools. Let us go on with our high-priced lives already."
"Capital idea, Hubert. Just like '29, eh?'
"That's the ticket, Allred. And have that cowgirl come in on your way out, will you. Our little friend Willie's gone uncared for this whole tiresome week, y'know."
Good weekend. |
