Dec 072010

Another big gap up.  Another P formation that is holding.  This looks like the ultimate short squeeze.  When will it stop?  Rhetorical question.

Here’s the chart with some ideas:

I need to see some strong selling before I want to push my luck with shorts.  So I’ll mainly be looking to “buy the dip”.  Love that phrase & video.

Sorry no predictions, just taking it as it unfolds.  I had a nice gain in the morning session so I plan to play a bit more conservatively this afternoon.

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