Well I covered my shorts for further continuing of this bull market has resumed. I found some nice setups today, for some decent profits. I have a feeling with the Bulls taking the lead we're just gonna splurge higher, and breakout from the already monumental highs. I think the bottom buyers have overtaken any type of bearish investor to the core and rattled their bones. I'm sure there were lots of bear traps out there as we had a brief pullback, and continuation higher in most sectors. I'm going to highlight the strength of the market, show you how the volatility is pulling back into it's complacency territory.Interesting Chart:
Pfizer (PFE)
Today's Trades:
Apple Computer (AAPL)
Best Buy Corp. (BBY)
Volatility Index ($VIX)
As you can see it's heading lower, which means the market is getting more complacent with it's "bullish intent". The sell-off caused a spike in the VIX and shook things up a bit, but it was a false alarm sell off, and the VIX has now gone to rest again.
2 comments:
Nice trades on AAPL and BBY. Reminds me a bit of Vadym Graifer's style from his book Techniques of Tape Reading. Have you seen the book?
Hey Eyal,
I've read Vadym's book and quite liked it. I especially liked his focus on euphoric and capitulation volume spikes. The AAPL volume spike is a perfect example.
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