Monday, August 14, 2006
Quick Alert: Transports Fading
I will likely remain idle today, content with my shorts, longs and 35% cash position.
It appears the bears are making a stand-- driving down the transports. Reason being: where the transports go, the DOW will soon follow.
Keep an eye on this selloff and consider shorting if the .TRAN should go negative.
This rally is weak and could unravel at any moment.
NOTE: The SOX refuses to selloff, up more than 2.2%. Again, I attribute today's rally to spoiled short sellers taking profits.
UPDATE: I can't help myself. The bulls are tripping over themselves, trying to keep this thing (rally) together. It appears the bears will be pressing-- until the close. With that in mind, I will be initating more short sales.
It appears the bears are making a stand-- driving down the transports. Reason being: where the transports go, the DOW will soon follow.
Keep an eye on this selloff and consider shorting if the .TRAN should go negative.
This rally is weak and could unravel at any moment.
NOTE: The SOX refuses to selloff, up more than 2.2%. Again, I attribute today's rally to spoiled short sellers taking profits.
UPDATE: I can't help myself. The bulls are tripping over themselves, trying to keep this thing (rally) together. It appears the bears will be pressing-- until the close. With that in mind, I will be initating more short sales.
