“So Happy It’s Thursday.” Kind of an uneventful start to the day, nothing of mine is screaming profits or losses so it’s just “ho hum.”
More housing woes
More bad news for the housing sector, inventories are up, sales are down. I am hoping this news is good for my RATE Put, since bad housing numbers should reflect in the lending sector, “Pin action” as Cramer would put it. We’ll see if I can get some more Mo behind RATE. Right now, the stock is down .12.
Yaaaaaaaaaaaaaawn!
Man, the market seems like it is on a snail’s pace today. My father believes that it will be this way until after Labor Day when all the Fund Managers come back from their looooong summer hibernation in the Hamptons. I, for one, look forward to the Fall trading season where there should be some direction and some volume.
Is there anybody out there?
Man, there is jus NO volume right now. Today was like watching paint dry, sheesh. Well, I am keeping a very keen eye out on WFMI which went up $1.36 on weak, weak volume. I guess some people have nothing better to do with their time ‘cept screw with my trades. The stock is still within its trading pattern, so I am not bailing yet, but it is getting close.
GLG is backing away from the neckline on my Ascending Triangle pattern which I anticipated may happen. Obviously I would have preferred a breakout, but it looks like with such light volume, it ain’t gonna happen on this run. Oh well, there always the next run up.
Happy Trading!
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