Month: July 2008

for now, but SP is weakening and below declining daily VWAP. Breadth is also bearish with 1257 advancing stocks and 1738 declining ones. Defense wins the game.

when the market can rally on “bad news” it often leads to strong moves. Very impressive strength so far.

the August 45 calls in IMCL yesterday but didn’t pull the trigger at $2.30. At least I’m not one of the 8.7 million shares short the stock out $19 this morning.

The only way in which one human being can properly attempt to influence another is the encouraging him to think for himself, instead of endeavoring to instil ready-made opinions into his head.~Sir Leslie Stephen

The low from yesterday afternoon near 45 takes on added significance because it is also the location of the rising 5 day moving average. A break below that level would make any breakout attempt less likely.