Snoozefest Float: Inside Look At My Trading (Present And Future)
The markets are floating higher with the technology sector leading the charge. The tech sector took the biggest beating of late thus obviously would get the biggest bounce percentage wise. I saw this a mile away, giving buy alerts on Pandora at $25.95 and LinkedIn at $158.35 and other stocks to members (while closing out our shorts for profits). We have closed out both P and LNKD for approximately 10% profit in just days. While I still hold one remaining long play, I am enjoying this slow float higher as it will lead to another shorting opportunity. I think this slow float higher on the S&P 500 over the last two days is very telling. It is a change in character. Most won't recognize it, but every bounce we have seen since January, has been sharp and vertical. This is not sharp at all. That tells me further downside is probably less than a week away.