Monday, November 29, 2010

50MA Daily Triggers a Double Distribution.


Thanksgiving ushers in a double distribution afternoon feel-good rally off of the 50ma. Financials were strong AM and a test of the daily 50ma that "just faded out" said "forget the short side".

Given today's rise on crappy sediment, a break out tomorrow above today's range highs on anything but ferocious internals will be a fade trade opportunity.

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