Well the action on the SPY yesterday was nothing special.If anything just looked like a low vol deadcat bounce. The bulls couldnt up enough courage to do some real buying.
I have this eerie feeling something big is going to happen. not sure what but I know. Kind of like that feeling when one of your not so good looking nice friends has a really hot girlfriend. You just kind of know that she is getting tagged by some tatooed NBA shooting guard.
My gameplan for swingtrading is to just chill till we pullback to some support levels or we get so overbought I must short.
In the meantime I am looking at some quick hitting plays in China and I am seeing a couple interesting bullflags for some quick scalps. If you look at a lot of the Chinese smallcaps they have pierced their lower bands and are starting to hit some extreme oversold levels. I will use small positions and be in an out quickly.
Check out some of the chinese solars or ag stocks. Been pummeled they are due for a couple day snapback. The odds on these plays arent good but I will keep my risk small by trying to find some near support. Once again there is a good chance I just get stopped out but the loss will be minimal
YGE has the same setup if you can get 10-10.50. JRJC too. Keep stops tight. Tight Tight. Dont be stupid and if hear a horror story I possibly might shoot you. Or ask your for a dollar to make pennance. Or make you babysit @jweaving for a night while he drinks scotch.
Oh yeah for you weenie daytraders and flagfuckers. Here is one for you.
HRZ—-some nice volume kicking in also.