Toe in the Water

Monday, March 06, 2006 | 01:56 PM

I mentioned last week that I believed the technicals were favoring a short term upside pop. I also suggested that I was waiting for this week to make any purchases.

I am purchasing a smattering of QQQQs, SMHs, and SPYs here for a trade; I expect to hold these less than 30 days.

Caveat: understand that I scale in slowly, and have a tendency to be a touch early . . .

Monday, March 06, 2006 | 01:56 PM | Permalink | Comments (14) | TrackBack (0)
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Comments

Interesting...

You are buying while the market has just broken down from its tight range.

If this turns out to be a bear trap, you will be right on.

Hopefully, this doesn't turn out to be the beginning of a waterfall move down.

Posted by: Michael C. | Mar 6, 2006 2:13:04 PM

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