My time is very limited so I will make this message brief. I had to sell some of my Twitter shares today. I did not want to, in fact, I want to be long Twitter until I am a salty old dog and then pass said shares on to my unappreciative decedents.
But my steam is completely transfixed upon the name. It could keep climbing tomorrow but technically I am not liking today’s print. It suggests buyer exhaustion.
Will they exhaust today or tomorrow? Perhaps.
Or this run will continue. With most “traders” taking the rest of the week off, the patterns they typically form may not exist today. I read that this morning. I disagree. Order flow is order flow, and I smell buyer exhaustion.
If it goes higher, I continue to ride with a ¼ long. Hopefully I can buy some retail liquidation in January.
I just call it like I see it.
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I think this is a good plan. I expect it to consolidate lower after the new year as people hold to not increase their tax burden in 2013 after they are already likely paying on some decadent gains this year.
I couldnt resist this morning, eitherl; hence, my another sale +81% …still got a runner on.
Lean with it rock with it