Thursday, April 21, 2005

A quick note at the open

Yesterday's action, with the bounce in the AM and selloff in the PM, was really ugly.
The pop in the futures this morning may be real, but make it prove itself.
I haven't said it for a long time, but this is a good day to remember the Trader Mike Rule #1--i.e. wait to buy above the 10 AM (eastern) high, to make the rally prove itself.

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