LULU all thru SPY swoon it wasnt losing $62 so when SPY bounced it was go long/ contrarian, same with KORS good for a quick $1 bounce, should have taken a shot shorting LULU 64.60 later was that "three wave up pattern" that would have been 80c scalp short too.
Thats why have SPY chart running ontop always which signals to all the rest , AAPL still had momo to bounce $6 etc, they'll all trade off the SPY signals now.
MNST was back up & FSLR covd MNST at 46 from 54 right time for that, CELG shocked longs with more down but it had run too far at 115 the other alpha bio i follow REGN drew buyers
Now that CSCO & DE were downgraded, the warning from CAT industrial, miss from technology ORCL and from Tran's FDX not just Cyprus but a good dose of reality check about earnings and they just started this week to remember that. (thats what i was thinking last week during the euphoria, hey guys: earnings right up ahead )
LULU went contrarian again yest & bounced a little
TIF will determine more the fates of FOSL & KORS this am which is testing that 55 pivot again should they get flushed down a little more perhaps some dip~buys tried.
FDX u saw me go in a little early 65.69 and writing a reply to you made me lose 10c on that first attempted bounce, then there was the last pushdown to 65.30 and bounce to 67. There's nothing that makes you happier than see the stock bouncing but the RSI on the daily was just hitting 30 and most shorts would cover there. When things get so overbought then how do you know what is truely oversold?
But FDX was conventionally just hitting the official RSI OS there for now & 3waves down, RSI 30 saved it but talked to few that got burned on the way down, that was a big miss so got the full monty down.
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