Even though last week looked and felt like a great week I’m going with the thesis that this move is a dead cat bounce and an opportunity to put out some shorts. There were a lot of shooting stars made on Friday. Many of them were caused by stocks failing to hold above their middle [...]
Posted by 24 August 2003
Reversal of Fortune
We certainly had an action packed day on Friday. The market was already flashing signs of a reversal, based on all the bearish candlesticks I mentioned Thursday night. It looks like Intel’s news may have provided the spark to exhaust this latest rally attempt. We had a textbook one-day reversal on Friday, and all the [...]
Posted by 19 June 2003
Expired
Posted by 3 June 2003
QQQ/NDX Bearish Engulfing
I noticed yesterday that the NDX/QQQ was a bit weaker than the NASDAQ as a whole. CNBC just did a piece on the bearish engulfing pattern made by the NDX yesterday. They did this while showing a line chart, instead of a candlestick chart (WTH?). So I thought I’d post the candle version. Here it [...]
