______________________
The huge opening gap higher is melting up this afternoon, as bears appear to have hit the beach or ski slopes for vacation. Of course, the issue now becomes whether this rally has legs. With the S&P 500 recapturing 1220-1230 for now, I am not interested in stalking shorts at this point. Earlier today, I closed out the rest of my CRM short at $104.80 with entries at $126 and $115 inside 12631. Despite success on the short side with trades in recent weeks, the bears have yet to prove that they own this market. So, I am not itching to play for the big breakdown and likely will not be seriously looking at that scenario until I get a feel for the action in early-2012.
A few names on the long side that intrigue me: GNC HANS NUAN PIR. These are still far from ideal conditions for swing traders to pounce on the long side, but if Santa Claus is finally arriving on Wall Street for the holiday rally then I am willing to play along.
damn Chess, ur pics are aamazing…i’ve seen her in others is that ur gal?
Yes. She specializes in analyzing Bollinger Bands with me.
Thanks Chess- what do you think of the breakout in WPRT? If this move has legs, it seems like a decent set up. Or, would you leave it on the tree? Thanks, Tom
I see what you see. Nice setup. However, I’d like to see maybe a day or two sideways before buying. It looks good, though.
As soon as I saw the title of the blog I couldnt click thru fast enough, and thank you.
long and strong for now you think?
Well, I took off the last short I had on today. I would say “long” but not necessarily “strong” just yet.
ya gotta mind that gap
She’s right up there with that white bikini girl from earlier… Both are tasty.
Thanks for the pics… oh, and the charts. :-p