Probably going to be the first of many protests / marches in Washington, DC (and around the world). See more protest photos here: WhiteHouseMafia.com.
Looks like a big volume reversal on volume two days ago, then a rally on unimpressive volume today. Smells like group rotation and/or topping or basing action to me. Energy stocks have dominated the new-highs list pretty much since Bush invaded Iraq, with over a hundred stocks hitting new 52-week highs per day being pretty common, especially over the past few months. Friday, however, the energy sector was in 11th place with a lame 4 new highs. We will know more when we see what happens if/when the energy stocks test their most recent highs. If it’s weak I expect to do some shorting, at least if I’m near a computer, which actually might not be the case for the next few days while I’m in Mississippi. Cheers!
Success usually comes to those who are too busy to be looking for it.
-Henry David Thoreau
If the rate of change outside the organization exceeds the rate of change on the inside, then the end is near.
Looks like OptionsXpress (OXPS) finally awoke from its month-long slumber. Still will need to see what develops over the next week or so (follow through, retest, reversal, or double reversal), but today’s 5.5% move on 3.6x average volume on top of yesterday’s gap up and rally is a good start. NOTE: See 8/27/05 post titled OptionsXpress Holdings Inc. for my OXPS introduction. Cheers!
The roots of education are bitter, but the fruits are sweet.