6.26.2006

STOP TRADING NOW


Apparently no Cramer today as he must be away? My only trade of the day was buying the DIA earlier this AM at 109.95 and selling em a few minutes ago at 110.35, so a successful day back after a nice vacation in the hair dryer (dry) climate of Scottsdale, Arizona.

The key for me to stay in the trade was the relative strength of the internals, the brokers (GS) and the techs. Generally, when they are all green it pays to hang on to the inventory and buy pullbacks. The oils also flipped to green this morning after opening to the downside, another good tell that the market would get some jig. Anyway, I am out as it looks like the markets are going to close at/near their highs. I anticipate more of the same tomorrow and Wednesday as we await the Fed speak from the Fed head.

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