A different perspective

The idea for almost the last 3 weeks has been a market bounce to an area around the 50-day moving average. Last week we had two days in which we couldn't break resistance, 3C was showing and I had said, "we need to pullback, get some accumulation and make another run to break resistance. That happened! Also in my nightly recaps, I've been saying volume isn't going to pick up until the shorts start to cover and the shorts aren't going to start to cover until we break resistance. Today we broke resistance and guess what? Volume is up. I'm not looking for a strong market move, I'm looking for a bounce to short in to, so if the intraday data s saying this bounce is becoming weaker, why should I care? So long as we can hold the breakout level and target the 50 day moving average or better, mission accomplished, no matter how we got there.

So there's the breakout, volume is higher, we really don't want a strong market going into the 50-day average or above, as that's where we want a chance to short stocks, so I think maybe I'm a little too wrapped up n the details of how this is going down, and missing the big picture, IT'S GOING DOWN the way we've been waiting for, for nearly 3 weeks!

Yeah, sometimes we get lost in the lines.