Attempted Rally!

  • The market began to attempt a rally today! This could lead to a Follow-Through Day and a new uptrend, or it could just be a big bounce before we plunge to lower lows. Only time will tell. I am continuing to look for leaders and signs of strength.
  • At first I was confused by all the people who aren’t generally interested in the markets talking about the Facebook IPO, but now I think it’s hysterical. I love how everyone thinks they’re an expert even though they’ve done zero research and put in zero study time. Facebook can go to zero or six hundred for all I care. Until it builds a base, I won’t be a part of it. I will say though, as an observer, going to zero would be hysterical.
  • I’m going to try to start using charts from freestockcharts.com. This could be pretty cool once I play around with it and learn how to use it. I still think KORS could be a Monster Stock if it builds a base and then breaks out on huge volume.