The Wrap 4/5/11


If you watched today’s marine weather report it was flat with some small chop. We are either consolidating before we go higher, or we are getting ready for a sell off. Yesterday’s volume was 30% below the 90 day average and today was about 25% below the 90 day average. Is the market tired? You decide, because I don’t know. That’s OK because we trade the tape and play what we are dealt. Wall Street is littered with those that thought they knew.

I took some profits on FTK, AKRX, AAPL & SRCL today and I added TZA as a hedge just in case the ether on this market wears off suddenly.

I have nothing tonight as the train keeps rolling.

In case you were long ASMC

See you in the morning.

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