Stocks rallied, once again, thus fulfilling my prediction of a week long rally on lower and lower volume each day. This should then lead to a failure around the 50 day moving averages in the indexes which should lead to future shorting opportunities. However, if a miracle has occurred and instead this is the first test of forming a bottom (we would probably need to retest due to the low volume) then maybe just maybe we can get some base on base patterns or some cup with handle patterns forming. Sadly, the pickings will be slim as the damage the market has done to stock charts is beyond silly. Still stocks like CEPH STSI UBSH CFL ODC ISYS EBS NCIT TSYS CPLA DLTR AXYS CWT COGT and EPIQ with a little more work in either forming a correct base or building another smooth base on top of the sloppy one some have broken out of could be a positive that we look forward to in the future. Either way, like most of the greatest traders ever, I have both sides covered and am ready for either outcome. You definitely should be too, especially in these volatile times. I hope everyone had a great Thanksgiving!
new long positions: none
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