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Friday, March 30, 2012

Friday Doldrum

It turned out to be a boring day.  SPY didn't go above the Open Range and so today's trading plan didn't materialize.  After the green gap fill and bounce, it just stagnated till the close.

The up trend is still intact in all time frames while the daily MACD continues to erode.  No wonder VXX is going no where.  The path of least resistance is to consolidate around 140.   I'm still sitting on 1/3 of my original inverse ETF's.  Hopefully I get to close it on better prices than 2 days ago.  AAPL has been weak and gone orthogonal with the market in the last 2 days.  That's could be a red herring for next week.

One order that got filled today was YELP's backtest at 26, as per yesterday's post.  So I picked up 1/3 of my position there.

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