Today is playing out rather marvelous, if I may be so bold. The stock markets lauded the news out of Europe overnight and sent markets skyward. Much like last week, we start with a big gap. This time markets are gap up, a direction congruent with the prevailing trend.
So while the kneejerk reaction is to fade the gap—fade it with the same tenacity we inflicted upon its doppelganger twin—it’s not quite as easy.
I dropped in just now to see markets have gone neutral on the session, my favorite day type. And through the whitewash of market churn, today’s tape has a dapper appearance.
I took the neutral scalp, nothing more. I’m hunting a long, but thus far not overly thrilled with my prospects, through it looks like the Pelicans may be onto a few warm ideas.
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The nefarious crowd of $CREE shorts shall now vacate the premises whilst new, more gentlemanly longs will assume their foul-smelling seats.
keeps looking real nice, semi’s too