Wednesday evening

Today's market brought to you by Dr. Ben Dolittle

Wednesday afternoon

For the ladies ...

It's Fed day.  Relax and wait for the market reaction to the minutes.  Remember that the first move is often the head fake.  As always, your participation is not required. You can sit back and watch.

Wednesday morning

Gator's Chart of the Day: WETF

This is a trade I am currently in.  (You already know that if you follow the blog at all.)  I was stalking the stock after it fell hard when things were not going so well in the news out of Japan.  When I saw it found support (bottom arrow)  around 10.50 I wanted in but missed it for various reasons.  When it pulled back from the 50 day kiss and 20 day (top arrow) close I watched for the next bounce (arrow on 7/5) and missed it again.  (I really didn't want to enter on Friday.)

When the stock opened higher on Monday I entered with a half position and a tight stop.  Yesterday I added  and when the stock held above the 50 day for the requisite 15+ minutes I generally insist on.  Now I'm ready for a final add if/when the stock moves above the last arrow on volume or if it holds above 12.50 even if the volume is a bit light.  Speaking of volume, it has not been heavy but the last 3 trading days have seen higher levels each day and the close has been higher than the open.  I like that.  I hope to ride to a test of the May high.