That There’s a Trend Day Bob

It isn’t often you can use the Dow Jones Industrial Average as your tell. Then again what’s in a tell anyhow? It needs to be actionable, that makes it valuable.

Like Exodus insisting Facebook was a buy at $78 at giving lots of cold dead data points as evidence.

But let’s segue into auction theory, try not to leap from your seat in excitement. Today is a trend day on the Nasdaqs and as long as we close upper quad it has confirmation. You can tell it’s a trend day because it left behind several bell curves on the volume profile, thoroughly auctioning each price on the way up, bringing value with it. The theory states that any entry during a trend day is a “risk free” entry into the following session, meaning, that odds are high we exceed today’s session high (if only by a tick) in the following session.

That might not mean much to you, but in the parlance of tomorrow being god forsaken option expiration day, I do say, quite boldly, it is reason to believe I will indeed see fireworks tomorrow.

Like forty dollar moves in Priceline and other high ticket stocks.

I intend to see the river card, pants down, middle finger up, sitting atop two cases of Coors light high speed bullet cans.