11 P.M. THOUGHTS
As we head into Friday's trading session I am thinking the following:
- This market (mainly the QQQ) smells of an animal that is looking to break out of its cage to the upside. Nothing has changed from my posting a couple days back. I think we're going above 58 on the QQQ and I think it will be fast once it begins.
- PSTR is looking like it's beginning to consolidate perfectly right near its highs. Still early...needs a few more days to confirm. It's much stronger than I ever expected. Investors are seeing the light....and rightfully so.
- Speaking of PSTR and the natural gas sector that it's involved in...the GAZ (natural gas) etf that I mentioned a couple weeks back is looking like it's attracting some attention from investors. Volume has been picking up. The price pattern looks ripe for a move up. I'll be watching it since it relates to my investment in PSTR.
- Lots of Chinese stocks are coming up on my scans as movers of note. Still trying to figure out what it means. It smells of speculation, however. Are these the new phase 4 stocks?
- I haven't been seeing a lot of opportunity either short or long in the markets for "The Gun". And I'm not the type to try to make up trades where there are none. I am fine sitting tight...you should be too dummy.
- The move up in silver is reaching insane proportions. At the same time, it is a picture perfect example of the perils involved in attempting to catch market tops. Yes, I believe silver is in a bubble. However, I've come up with better means of extracting profits out of the markets than trying to catch tops in enormous macro power trends.
In college I used to stay up until 5am. Some years later I can barely stay awake past 11. It's 11:05. Goodnight.
