Some Crazy Sic Moves #SassyMusings 14/14/14
- This market is on crack yo…..I mean WTF?
- Decent size gap up today, but took a little over an hour this morning before there seemed to be any conviction as to whether it would hold.
- I came in flat today, but then seeing the gap hold and internals strong I tried two longs. A short while after that when I saw the market get weak mid-afternoon I didn’t hesitate to get out with no damage. Then flipped short and caught nice moves in TSLA and SSYS.
- Back to flat for now because as I mentioned over the weekend, both on my blog and on TheStreet, this market is not healthy in the short term and I don’t want to overstay my welcome in any one trade.
- Tomorrow is the famous Turnaround Tuesday, and Yellen is speaking pre-market. Looks like most people are positioned long for it. Shall be interesting.
- We had some pretty heavy negative TICKS today, one being -1431. Perhaps that marks a bottom? I don’t know the answer, but I’m still cautious. I will admit that was a sic bounce at the end of the day.
- Chart of the day: Talk about indecissivness
- Tweet of the day: Too many people enamored by the market to be funny perhaps.
Happy Passover to anyone that celebrates.
If you are looking for market guidance and real time trades consider a subscription.