Rising Wedge

Firstly, the after hours in GOOG was nuts. I don't know one person who didn't expect GOOG to outperform so I'm glad to see that the market isn't going to reward such obviousness (at least for more than 20 mins). Lately the market seems to be rewarding such behavior, which may be indicative of dumb money, but as they say, I'd rather be rich than right.

Easier said than done. It's still the same old story. It's stupid to buy at these levels but shorting hasn't been working out too well either. I'm convinced that as soon as I start buying breakouts, it will become fashionable to start selling strength and buying weakness again.

SPY remains in a rising wedge pattern (which 'should' resolve to the downside) but until that lower trendline is broken...


I still find AAPL intriguing. It finally closed its gap to the tick (from 09/26/08!) , several fibs seem to be collecting around its current level, and it's up 50% in a month but I don't know if I can bring myself to stand in front of this bus.