Dave Landry

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THURSDAY, THURSDAY, THURSDAY--My most favorite day of the week!
Join me today, February 24th at 11:00 AM Eastern for Dave Landry's
The Week in Charts--a free interactive webinar.  Click below to
sign up.

https://www2.gotomeeting.com/register/710669610
 

I have a ton of stuff to cover. So I plan to be all jacked up on
the Dew. 
 
Here is today's Market in a Minute:

http://www.tradingcommentary.com/mim/mim022411/mim022411.html

Random Thoughts:

The market continued its slide. It's not the end of the world
though. So far, it, especially basis the Ps, only appears to be
pulling back.

I am a little concerned about the Nasdaq and the Russell. They have
pulled back into their recent trading ranges. Ideally, I'd like to
see them turn back up soon.

I don't think anything has changed just yet. We trade pullbacks and
the market has pulled back. This is how we roll. This does not mean
blinding jumping in assuming that the market will promptly stop for
us. It means that we take well thought setups and wait for entries.
Not tick, no trade. This in and of itself can often keep us out of
getting into trouble on new positions. 

I still think the shorts are a little over zealous. Two down days
and you would think that we've been in a bear market for years. I
think they're a little too complacent thinking that this is the
"Big One Elizabeth" When the squeeze comes, it's going to be very
vicious. If you snooze ya lose.  

Obviously, as I preach, honor our stops just in case.

Futures are soft but well off their worst levels pre-market.

Best of luck with your trading today! 

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Dave
PS Chart show later today. Call in sick. Eat your Wheaties!

Questions? Comments?  Buy my new book, read it, then shoot me an
email at dave@davelandry.com or call me at(1) 985-898-4993. 

Disclaimer:

All predictions are about the future. A lot of $#*!  can happen
between now and then. Just ask the Lybians.

Information is provided for educational purposes only. 
See more disclaimers at www.davelandry.com