Thursday, November 29, 2007

Travel Days & Consolidation Patterns

I will be traveling today and tomorrow on business. Constructive day. It will be interesting to see what Mr. B has to say tonight. Stay tuned next week for the promised VWAP study and an update on the Sentiment Measure.

Best, Jeff

PM UPDATE: I noticed this evening that a good number of fellow 'bloggers' are skeptical of the rally based on volume. That's fair enough, but be advised that relatively low-volume, narrow-range days subsequent to a big move off of a bottom, such as today, can also constitute consolidation days before another big leg higher. That plus end-of-month and December seasonality could spell a positive day tomorrow. Again, listen to Mr. B tonight for a read on the AM; respect price action; and trade well.

FRIDAY AM UPDATE: Nice pop; I'd trail a stop.

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