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Thursday, November 11, 2010

11/11/2010 After Bell Quick Summary

The bottom line, the short-term trend is not clear. I hold partial short position overnight because the mini price target hasn’t met, not because it’s safe to do so.

Mixed signals for tomorrow, but I’m a little little little little bearish biased. Yes, I’m fully aware that huge POMO starting from tomorrow and everything is supposed to be up except perhaps the Dollar, but I still have to respect the chart. And yes, I’m fully aware perhaps most of you are thinking that chart is no longer needed because this is not a free market anymore. Well, we’ll see.

When CPC <= 0.80, 14 out of 18 times (78%) recently a red day the next day.


The reason I put a lot “little” before the “bearish biased” is because tomorrow is called “bullish Friday” and never have we had a single red day on SPY since the current rally started.


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