May 262010

Short day today. I must say I originally hd little hopes of the OH holding and as it turns out I was right. But when we get a dream setup like that Biglot we have to figure for at least a hold for a partial rotation. Institutions just started pounding the lower side of that last test and it was more of a momentum play than anything. The real bummer though is after the 4th tick in the black, institutional buying slammed in with the same vigor off the high side of the big 83 handle cluster and it was enough to spook anyone out of that trade. If you had the stones to sit that out you could have got three or more handles of profit out of that trade. Maybe some of you did. That is all for now, but if anything else looks good I’ll update you later. As always, be careful guys and girls…

 Posted by at 10:29 am

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