Friday, March 21, 2008

Is this Rally Follow Through Real?

We finally got a follow through to the rally yesterday.  Keep in mind that since 8/2006, it has taken about a month before the true leaders broke out (currently KEX and LNN are the big mooses, but unfortunately too extended right now).  So it will be interesting to see how this plays out.  There are definately more setups this weekend then last, and given another week or two I could foresee more.  So after all the brutal frustration, we could be in for a possible rally.  Whether it's a countertrend or real doesn't matter.  If there is an opportunity to make money, no need to hesitate.  In fact, there's never a reason to hesitate.  If it's not going to work, we'll know soon enough and your risk management will keep you safe. 


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