Tuesday, May 12, 2009
The fast line printed a red line today. This indicator tends to lag at least a few days but is fairly reliable of marking an intermediate trend. What it doesn't do too well is give one an idea of how long or fast a trend will go so it is something I use just as reference.
When the lines cross, that produces the second level of confirmation.
That having been said, I did close out my RIMM puts and sell my TWM on the large move today. Will look to reload at a better price but does appear a correction of at least a few weeks is on its way.
Financials and energy also look to be correcting/ consolidating for the intermediate term soon.