Big day yesterday, things were quiet and then at 1:00 pm the fireworks went off. The most interesting thing about yesterday was the fact that the SP500 (up huge), BONDS, GOLD, and Volatility were all up. A rare event. At certain times, breadth becomes so hot in the short term that it actually becomes a negative, we are there now. And to reiterate what I’ve been saying over the last couple of days; the longer your timeframe, the more irrelevant breadth, and sentiment measures are. Aggressively putting on new trades is a little tough.
When SP500 gains 1% or more and VIX gains 3% or more. HT @SJD10304
Here is another study, old but still a good one to know. From Quantifiable edges.
Below is my list for the day, I have an interest in these stocks if and only if they go through yesterday’s high. IPO’s have started to percolate, I will keep a very close eye on TPIC today.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at firstname.lastname@example.org or 646-480-7463.
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