That is the question for me this morning inside 12631, as my net short position is starting to come to fruition.
It has indeed been a churn the past several weeks. But we could easily be seeing the beginning of downside resolution with this morning’s move lower. After over a week of head-fakes, the small caps we had been looking at have now busted their sloppy 30-minute IWM ETF channel lower.
I am looking to scale at least partial positions in my shorts into this large gap down and reassess from there.
Having said that, sexy Diana (DSX) is hot again to the upside, oblivious to this sell-off. Of course, I am not in a rush to buy yet, with stocks like Google pushing through its lower Bollinger Band, yet again, seemingly ignoring logical support.
I will be back with some more analysis when the initial dust settles.
http://www.youtube.com/watch?v=xpZAic85Pgg
Which point would you pick up BRKB ? I’m looking around 112. What is your thought?
$111 needs to hold.
Thanks Chess.