The Entire V-Shape Reversal in One Day #SassyMusings 4/28/14

  • We used to get V-shape reversals that lasted at least a couple weeks, now we have both the down and the up side of the V in one day.
  • What’s interesting is that while the indices pretty much made up all today’s losses, many stocks that sold off this morning did not.
  • If I counted correctly we had 3 negative 1000 ticks this morning and then three positive ones this afternoon.
  • I told my subscribers that I am going to look for a possible bottom to get long over the next week if economic news comes out better than expected and IF* I either see a good flush with oversold indicators that I look for or if I see signs of accumulation. Without any of that I will just keep playing both sides of the chop.
  • Everyone is watching the head & shoulders right? Perhaps it will play out, but when everyone sees it, I find it doesn’t really play out as expected.
  • I may not have a perfect record and we do have losers, but to be able to book profits on both the long and short side today felt pretty good. Here is one tweet I was sent today by one of my subscribers. Screen Shot 2014-04-28 at 1.39.58 PM
  • Chart of the Day: Just hanging out in the middle of the BB band and right around the 10, 20 and 50 day MA’s. When it steps away it comes right back. Screen Shot 2014-04-28 at 4.00.42 PM
  • Tweet of the Day: Screen Shot 2014-04-28 at 3.27.06 PM
  • Tomorrow is turnaround Tuesday. Will it work again or was today the turn-around in anticipation? If you know then you are amazing, but I don’t really believe you….but you are probably still an amazing person.
  • Check out my latest piece for TheStreet.

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