Courtesy of David of All About Trends
It’s an 80′s Heavy Metal sort of day here in the markets and we’re not talking about gold. We’re talking about you’re mental health as in "Bang Your Head". Which is easy to do with all the gyrations intraday.
But its sure not stopping our " It’s A Market Of Stocks" theme of issues trading to the beat of their own drum. Just look at FIO here.
And then right behind it is VHC that as of this moment in time (subject to the next moment in time) looks to be also waking up
Moving on to the 60 minute time frequency charts
We still have that pennant building itself out that we talked about over the weekend and it can still go either way , if down then the 50 day averages aren’t far away and we’ll turn on the fasten seat belt sign for some in flight turbulence but that would be about it for us. If to the upside we are there and ought to participate to the upside due to having long exposure. Game Plan for 11-15-11 And here we are in the indexes-Pulling back and backing and filling. So what are we going to do about it? Nothing, watch stock specific names and pick em off here and there. Current Game Plan So here is the bottom line through year end. We buy weakness and we’ll use the multiple supports to define our risk once in a position. ==========================================================
SHORT SIDE WATCH LIST
NONE
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LONG SIDE WATCH LIST
"Only The Best And Forget The Rest "
"We Trade What We SEE, NOT What We Think, Hear Or Fear "
JOYG
NEW NAME
TIF
11-15 Looks pretty sloppy in here. Non committal. We will probably take this off the watch list after today. If it tightens up and we get some better structure we’ll consider bringing it back on the list. Remember we only want the best patterns and forget the rest.
FOSL
Back On the List
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