Monday, April 19, 2010
Driving Thru San Fransisco Fog
Right in the middle of summer there are days when driving thru the Golden Gate Bridge in SF is very hard because of the dense fog. Somehow with fog lights and GPS and little stop and go a a little slow and scooting real close to windshield I make it across. I felt the same way about the market today. After Friday's clobber of all indicators and channels and counts it was extremely difficult to know where the market was before I could guess what the market's next move would be. I found under these circumstances one there is a lot of money to be made and hesitation puts me into "could have ,should have" I depend on DOMA and DMRM and start taking small profits. On my right is my DMRM work sheet for FAS. I was in cash this morning and went long at 104.24, short at 104.5 and long again at 104.50. Each of the trades I made between 2 and 3 dollars. I am back to 100% cash at end of day. Explanation for the work sheet is on the work sheet itself. I Have also pasted the excel formulas. 3.2% is my own creation for FAS only. Other ETFs have different numbers. FAS trying to climb back into the envelope and one school of thought is to buy if an ETF/Stock goes out of the channel and comes back into it. It is bullish. We had a bullish Dino's KOD on FAS today. Yesterday's negative Dino's KOD on FAS made money early in the morning. Most of the bull ETFs are hitting against their DOMAs. FAS did not make a lower low. It made a lower high. That is an inside day. After such big day on Friday it was expected. So for the time being I will be playing DMRM until fog is cleared. I am not bullish.