Kind of scary that there wasn't a lot of profit taking into the close. Those darn Aussies ruined our pullback! The dollar (/DX) is at support, so it will be interesting to see if we break support this week. I had to buy a SPY shares early this morning (my account isn't set up to trade futures yet--I know, dumb). I took profit on the shares only about $5...I could only buy 10 shares because my ira account is tied up in margin on earnings/risk reversal trades--argh! Again, I get kicked in the stomach on portfolio management--I really need to pay better attention to that. There's no big news events scheduled tomorrow--however, the IMF is meeting, so who knows what will happen. Slowing momentum up as the day ended even though we finished near highs of the day. It looks like AAPL broke out of a base--on higher volume too. This market is a kick!
Crazy how AAPL just climbed straight up for the last 90 minutes into the close. It's got some stiff resistance around 191 from May '08 but will that slow it down? It's only ten points from it's all-time high. Look at the weekly chart-crazy climb, but is it time to short? I'm going to keep this on my shorts watch list, there is ALOT of room to fall whenever it does.
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Kind of scary that there wasn't a lot of profit taking into the close. Those darn Aussies ruined our pullback! The dollar (/DX) is at support, so it will be interesting to see if we break support this week.
ReplyDeleteI had to buy a SPY shares early this morning (my account isn't set up to trade futures yet--I know, dumb). I took profit on the shares only about $5...I could only buy 10 shares because my ira account is tied up in margin on earnings/risk reversal trades--argh! Again, I get kicked in the stomach on portfolio management--I really need to pay better attention to that.
There's no big news events scheduled tomorrow--however, the IMF is meeting, so who knows what will happen. Slowing momentum up as the day ended even though we finished near highs of the day.
It looks like AAPL broke out of a base--on higher volume too. This market is a kick!
I'm getting weak. Thinking about putting on some long calls on spy and dia. I'm sure as soon as I do the market will come crashing down.
ReplyDeleteCrazy how AAPL just climbed straight up for the last 90 minutes into the close. It's got some stiff resistance around 191 from May '08 but will that slow it down? It's only ten points from it's all-time high. Look at the weekly chart-crazy climb, but is it time to short? I'm going to keep this on my shorts watch list, there is ALOT of room to fall whenever it does.
ReplyDelete