Learn From The Past
Don’t
fight the tape!
Every now and then, you just stop the chatter and look at pictures.
I don’t know whether it was short covering. I don’t know if it was Intel’s
forecast. I do know Alan Greenspan’s poll numbers went up today.
A couple of early glamour breakouts:
Both extended but best relative strength.
Keep calm, keep cool but don’t ignore the tape. If this is for real….leadership will assert itself .Things got pretty frothy today very quickly. One would expect some sort of
pullback. But in this day and age of market compression, I wouldn’t bet on anything.
Don’t fight the tape!
As I write this, Barton Biggs…alias Wrong-Way Feldman says the move isn’t for real and will stop dead in its tracks
soon. Take that for what it’s worth. I will just take it day by day. I still haven’t forgotten the last
year. I hope you don’t either.
I know the market was very exciting
today, but keep your buying to the stocks in the best technical shape. Why?
Because if you buy into the froth, you end up buying a Juniper
(
JNPR |
Quote |
Chart |
News |
PowerRating) which
hit a high of $66 on the day but closes 15% lower. This is no time to be
indiscriminate. Learn from the past.Â
Gary
Kaltbaum on TradingMarketsWorld! Gary Kaltbaum will be appearing on the
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