The Picasso of this blogging game.
Just a quick check up on our dear leaders.
Goldman Sachs Group, Inc. [[GS]] daily
Apple Inc. [[AAPL]] hourly:
Apple Inc. [[AAPL]] on a daily, since the hourly was a little cluttered.
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Hey i want to be a blogger on IBC too, so where do i sign up? I will offer daily charts on aapl msft and goog also GS MS BAC C WFC JPM charts, plus SPX DJI and NAS. Thanks for your apple chat danny ur post are gettin better and better! IBC is too fucking little for you!
um…
I bought some srs and sds late in the day Friday for a quick scalp. I ended up selling at the close (fri) to lock in minimal profits assuming the bid would be there today.
But nooooo. The market lays an egg and I was 100% in cash. I didnt want to short either b/c I thought we moved down too much and probably didnt have much further to go–also thought we would squeeze at some point (at least at the close).
This market bites.
Cant wait to see what tomorrow brigs.
Don’t worry about it ML, that was the right thing to do at time.
Definitely taking short positions today after the initial fall would have been a waste for daytrade purposes and we did press higher into the close, but not in the standard, state-sponsored 10 point ramp in 5 minutes type of way.
I think trading long at 900 and 881 are my gameplans for ST, but on a more intermediate frame it would not surprise me if we topped in the general area of 950.
I mean, look at that brown TL!
http://www.ibankcoin.com/dannyblog/wp-content/uploads/2009/06/long.png
updated version up later tonight
That chart is the shizznit.
I think whatever happens over the next few days will just be noise. Im convinced that there will be a multi day rally going into the end of the qtr. Money Mangers will (almost have to) chase performance. This qtr has been very unique esp. coming off the March lows (the percentage gain has been enourmous).
The way we are setting up, esp. if we have a few down days at the begining of this week, will make the conditions ideal for the breakout. Shake out everybody, get the weak hands to cash out, then gun it.
I think thats when we take out the 950 area all together and plow towards 970 (ish) SP. Then everyone get excited for the next leg up. THe first week of July will have an upside basis w/ new money coming in for the first few days. After that though, who know what hte rest of the month holds.
Keep up the great work! People appreciate the way you deliver the internals of the market w/ charts and technicals etc. You are actually helping people learn and think for themself by listening to the tape.
“bias” not “basis”