Stay With What Works, Not What You Want To Work

what works

The baton will probably be passed back to some of those smokin’ momo names at some point, but they aren’t working now, even with some indexes making new highs and other rallying. Some momo names caught a dead cat bounce yesterday, hit resistance ,and died a quick death. They still seem to still be selling rallies in these names.

At this point, $FEYE could save Times Square from nuclear attack and it would make more lows. They just don’t want it right now and they sell any bounce.

It’s a new month and a new quarter and I’m trying my best to stay with whats working, not things that I “want” to work.

What is working is retail $XRT  and energy $XLE and some big tech $XLK (more 52 week highs today on the latter).

Mindless bores like $ORCL and $HPQ go higher.

The weekly MACD crossed up on $XLF today, ( I like that), and they may be ready to go higher gain. We’ll see.

The $NYSE (NY Composite Index) hit more all time highs today. I’d rather watch that as a “tell than the geriatric 30 in the Dow. Right now it points to wicked bullish.

I’m off to trade some palm oil futures with Bitcoins now. 6X margin. Carry on.

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