Monday Wrap Up

I basically told Zero subscribers early on to stay the heck out today – and although the tape got a bit cleaner after the first 2-3 hours it sure was no picknick:

The Primary Zero got its obligatory morning fake out candle which has become an true and tried tradition during OPEX week. However, it did paint a buy VTA early enough once we pushed to the upside. If you took it I hope you got out before the bell.

Zero Lite got bitch slapped as well in the morning but stayed above the frenzy (i.e. the zero mark) for the remainder of the day indicating that we would get further upside. The sudden drop into the close was boilerplate profit taking as nobody in their right mind is holding this crap overnight and retail bultarts are left holding the bag. Only Wishnu knows which way it’ll swing tomorrow morning. What bugged me a bit was this drop below the mark which however quickly recovered. Not sure what caused that as we didn’t see any follow through in price.

In summary – considering the tape we had to deal with I would give Mr. Zero a B- today. Maybe the best thing the Zero did for you today was to keep you from doing anything foolish – like shorting this rally. I saw a bunch of folks buying puts out of ‘principle’ and I wish I could have shown them this chart.

Cheers,

Mole