Today we saw good strength on the financials with our money maker WFC leading the market. It was definitely a good stock to watch today on the open. It was a bit sketchy into the close and it made it easy to churn away profits in the middle of the day. But overall if you stuck to buying and selling at important intraday levels then the stock was awesome.

I just wanted to point out that on the previous two occasions after we had strong closes we sold off aggressively the next day. The past two times stocks caught bids right on the open but then by around 9:40 stocks started to top off. The selling was exacerbated into the close when the reversal was apparent. So will we sell off tomorrow? I will most definitely play the long side tomorrow right on the open but will not be married to my bias if stocks start to show weakness shortly after opening. If we start to reverse, I will try to play the short side aggressively. If the pattern is broken then I will look for continued strength.

Good stuff today. I’m off to bed. Tomorrow is going to be another great day. Happy trading.