Wednesday, June 08, 2011

Our tells and Mixed Market

We’re done nothing more than scalping today, looking for dimes here and there as the action is too mixed for us to bet in any one direction.  On the negative side we hate the action in the silver miners, CMI, and semis.   On the positive side AAPL showing a bid and OIH doing well (thanks to OPEC).
Zortrades showed a snapshot last week of a quick way to look at stocks on his screen — we liked it and borrowed the idea — doing the same but with our own favorite tells:

Quick look at this and it tell us to either stay flat, or go for scalps, and not push our luck in any direction — at least until we get better breadth.

What many are looking for is a trend-day up bounce — that’s not going to come until we get better breadth and a upside revesal on some of the “momentum” stocks (like it or not, silver miners are an excellent tell for hot money).

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