Day Trading Thoughts For Wed. Dec. 17

[AMT4SWA]

Quote from AMT4SWA:

Market really wimped out yesterday.......heck the ES was not even able to hit the 919/920 level where all the inventory is resting from our recent two week highs???

If the market can't even get enough buyers to retest these highs in the next day or two that is a very bad sign.....very big hint then to get out of held LONG positions soon. Not too much time left before we are already into January (remember January this year....LOL!), and it seems there is no sign of Santa and his crew for the bulls this year! :eek:

That failure to PROPERLY retest recent previous highs was just not good for the LONG side play imo. Also, we are running out of time this year for any significant EOY rally. With most likely MASSIVE commercial real estate failure news ahead (January or February 09), the BULLies imo are running out time to get any traction prior to another leg down to retest our 52 week lows.

As I have stated sooooooo many times before with our current economic environment...."Stay SHORT, and stay OFTEN!" :eek:

 

[kipster]

Apple climbs higher off the open as it comes into its 2-day gap down range high near 91.10 (90.70 +1.37) : Would note that the gap fill is overhead at 92.75.