I am now looking at the DOW index for any possible trading opportunities.
Optimists are still trying to pump this inflated market.
Here is a quote.
“In planning major initiatives, executives routinely exaggerate the benefits and discount the costs, setting themselves up for failure.”
It works both way, up or down. The idea is that we should not be overconfident on where the market is headed.
This is my trading screen. Netflix is experiencing new capital injection as Coinstar plunge. The DOW is trying to reach new highs but faces heavy resistance.
I would sell or short AA, and as for Netflix, I would also sell or short it… Netflix is going to be this year’s favorite pump and dump scheme. Netflix might have been pumped upwards as MMs are selling weekly calls that are expiring today. I would be careful to buy Netflix at this price. Manipulation is rampant as Netflix float is so small, thus the stock is easily manipulated by the MMs.
That’s just a thought. Tolits might do the other way. Ultimately we won’t know who wins until it has already happened.
1 comment:
Correction should begin as Alcoa is in over bought region too
Post a Comment