Tuesday, June 28, 2011

6/28 10:00

Sitting on our hands is no fun, just like generals waiting for the time to execute an offensive.  No wonder they smoke cigars!  I have to let the bulls have their fun and chum it up at the watering holes after the close.  Their feel-good time lasts through Thursday and until then I get to practice my panther pounce. 
The Nasdaq is breaking out, so wave iv is not a rectangle but a zigzag up.  See the head-and-shoulders?
I have liberty to go long but I won't because I want to keep perspective on the upcoming shorting opportunity.  I won't let charts guide me, I'll let the clock do the job.  I'm working on software in the interim, but keeping an eye on the indexes.


  1. Hi Steve:

    I that Fire New Mexico anywhere close to you? Or is it South of your location? You are doing great work l!!! Look forward to the shorting opportunity.

    Mark S

  2. Consumer confidence number came out at 10am - very weak, well below consensus. Market completely ignored it. Very bullish - for now.

  3. Mark,
    Angel Fire is north, near Taos. I live on the Divide north of Rt. 60, west-central part of the state. I'm having a hard time waiting for the short point, too.