A Bull Run

The week opened to a bull run. Only traders that chased the put up got in, with lows of $12.00 and highs of 15.30 before the 3 p.m. hour.
Again because we structure our analysis first without the 3 p.m. to 4.15 p.m. "traders time" we saw Dow theoretical highs of 10,723 before 3 p.m.

The area around 10,746 is a major resistance line, where the market has stopped at almost all levels, from 8000 up to 10,000.

Many traders have written with our many recent successes sharing that they feel paralyzed by the market's whipsaw, and that any move they decide to make they then hesitate with any change in the market.

Our success with the July and August 500 Calls took place because we did the following:

1. Took calculated risk
2. Entered at calculated prices that they as the trader had defined in advance of entry; in other words, they knew how high or low they were willing to pay and to sell.
3. Ignoring the newsbites and simply following Point and Figure charts.

RIMM announces its new smartphone. A Blackpad is ready to roll soon, to try to keep up with Apple. Many companies report earnings.