Tuesday, March 31, 2009

"Gimme a Break."
1D, 10m. - Mar. 31st. - The Market is the Market.  It defies all reason.  Every indication was that the market would sell off and it Gapped Up and continued to go up only to collapse in the last hour.  I am sure that a lot of people are suffering from Whip Lash and seeking remedies (including myself).
20D, 60m. - Mar. 31st. - Potato Theory called for a "Down Day" based on failure of the 60 minute MA crossover.  Today the price action challenged this to the point of death.  In the end the theory held up but only after all the faint of heart had headed to the barn.
3M, Daily - Mar. 31st. - On the 3 Month, Daily we find ourselves in the Devil's Den.  This calls for extreme caution as the market is very fickle in this area (from our experience).