All the weakness early in the day was convincing enough that I reduced my exposure, selling YELP, before watching the market reverse higher and close near the high of the session with a big tail print in its wake.
This was a bullish session. It traversed our entire range, nearly a month old. Sellers made one final attempt at a stand around 2:30pm but we ultimately mowed over by a powerful whoosh higher. Now we must smoke any remaining shorts out from there holes, using our almighty PPT (wins again, big time) like a fish finder.
Remember, this is the last full week of trading on the year, after which things get light, fluffy and thin. There is still time to get your shopping lists complete but you have to act soon.
Santa Ben has snuck into our homes, using his Decetaper cloaking device, and planted hundreds of Christmas treats around. Are you going to sniff them out and eat them?
I have 15% cash burning a hole in my pocket and a big GOGO long riddled with angry, trapped elves. This ought to be an interesting holiday.
Ho ho ho,
Raul
http://youtu.be/IEKue3SrhOo
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It happens to the best of us once in a while. I consciously avoided my computer for most of the day, trimming the tree, chopping the rosemary and sage.
that was the play of the day, because the intraday action was rather haunting to me aggressive long book