Tuesday, June 14, 2011

gap up bounce

very strong bonce...   IWM , QQQs break thru top of channels   (key sign to avoid shorting today)

I shorted anyway - small loss.

AAPL and many others gapped up big to top of clear channels...  GDX.

IWM - magnet to top of 5 day range.

Clear sign:  99% IBD names green...  huge 11:1 up/down NYSE vol.   Squeeze day. 

IWM is climbing despite negative MACD signals. 

 -- set up was to buy  o/n  -- many stocks hit highs by 11 --  window of movement is very brief.  Now it's likely all churn until next stretched conditions.  

watchlist 100% green -- covering day... low vol. riser day...  lot of junk up big.

channels broken... oversold conditions gone now.

had SLV pegged -- dumped it instead of holding on for .60 gain... need to be patient with winners. 

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