My PANW long is back to the century mark this morning, as it continues to show signs of being as strong as any stock in the tape as far as institutional support and overall technicals. If we see a melt-up after the FOMC today I am likely add to this one and make it my biggest position.
As far as my shorts are concerned, they are all over the place–The Russia short shook me out yesterday but is back on track now. I scaled profits with a cover in SBUX yesterday, and did the same with AMZN previously. However, I may add back to both shorts if they remain sluggish like they are today.
Bonds are staging another fairly weak bounce, and I still have my TBT as a short bet on.
All in all, I expect the usual drifting action as we get closer to the FOMC today before the fireworks are likely to begin.
Just looking at that picture gave me a heart attack. Or was it the market movements….
Eggs and meat are healthy. It’s the toast that’ll get you…
At least the toast appears to be sourdough. Would never make it in Paleoville, but may be the best of the worst?
http://ellensfoodandsoul.com/blog/2011/03/30/using-sourdough-to-lower-the-glycemic-index-of-everyday-baked-goods/
Nice try, Unc
Ha ha! I knew that wouldn’t go over well… 😉
The marrow might get ya too
Healthiest thing you can put in your body.
Chess, quick question for purposes of learning. How do you know whether a stock (in your case, PANW) is receiving strong institutional support? Thanks for the insight and help.
boyaj,
Thanks…I study the volume pattern, you want to see a series of “Accumulation Days,” with price rising on an uptick in buy volume over the previous day’s action.