Let me add a little clarity to my message this A.M.
When I get the red dots on the charts it is a “warning sign” that you should not be buying strength.What matters is when I get a red arrow to confirm a high, then you can go short with confidence of follow through.
This could take a few days to happen.
It’s going to be a late day time frame trade.
I’m not ruling out another push higher late day.
Those of you who want to be conservative and squeeze more out of your calls, sell half on the opening and half on the close.
It’s Friday on we’re higher on the week in the Indices. Logic would say higher into the close.
You have to trade the individual names on their own merits and use appropriate risk management tools.
Just because a related sector index is doing one thing, an individual name could be doing the polar opposite.
General observation…we’ve been getting contra extremes put in between 11:00-12:00
trapping traders pressing that direction in thin volumes.
I.E. yesterday Spu’s bottomed out after London’s close