Wednesday, January 2, 2013

Jan 2. A New Beginning

As expected.

First day is marked by mutual fund buying  -- creating major unstability with a massive gap up of nearly 2% on /tf and other markets.

AAPL +2.75%
CLF +4.6%

first trade of the year was to dump some MSFT in premarket. 

financials up huge.  BAC +3.3%

most disturbing:  /cl up 1.6% to 93.36
gold up big.

U.S. is set to issue more debt, create inflation - market bullish up to a point.  

/tf  866.9    +2.26%  Massive!

steel, coal strong on upgrades and China data.   Absolutely everything pushing market higher.

/tf  867.5   +2.37%    best gap up ever?   Another 'off the chart' day.   Happening all the time now.

8:50  -- 1 min gravestone doji.  Very small signal -- but minor top here?   on /tf  

9:16   30 tick retrace -   high vol.  gravestone doji is always tradeable with tight R:R.

advn-decn +2460   -- stellar.

Dow +229   at 9:41

advn  +2600
/tf  870

Dow +262     ragefest.

GDXJ --   best etf  +4.6%   inflation!

/tf -- breaking lower   866.6     advn-decn  topped out.

AAPL 546 -- sell the gap was the play of the day.

intraday slop...     just going to whip around and take out tight stops.

/tf -- fading a bit.

Fib target retrace:   865  then 861.8  for today.    Risk is $80 for maybe $200

-- moved close to first fib -- ramp into close -- new highs --  This Abnormal Days break most rules.   Stick with ADVN-DECN - - all dips are buys on Rampage Days.

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