Aug 26 high was 88.47 on volume of 1,045,800
Aug 29 high was 88.47 at the close @ 3:59:59 Volume of 72,997
Most folks expected consolidation or sell off on August 27, 2013
Settlement Date …..Short Interest ….Avg Daily Share Volume ….Days To Cover
8/15/2013 ……….1,797,771 …….…….838,340 …………..2.144441
7/31/2013……… 1,262,550 …………585,550 ……………..2.156178
There are SEVEN PILLARS OF STOCK MARKET PRACTICE necessary for success.
1. Determine whether the market is in a "bear" or "bull" trend.
Then determine further whether it is a major, intermediate, or minor trend.
TRADE WITH THE TREND!
2. Determine which groups of stocks are the strongest.
TRADE IN STRONG GROUPS FOR ADVANCE! TRADE IN WEAK GROUPS FOR DECLINE!
3. Select the strongest stocks in these particular groups.
TRADE IN STRONG STOCKS FOR ADVANCE! TRADE IN WEAK STOCKS FOR DECLINE!
4. BUY ONLY ON REACTIONS-not on advances!
SELL AND SHORT ONLY ON ADVANCES-not on declines!
5. Place a mental or (if you do not watch the tape) actual stop-loss order of two or three points on your trades.
BE AT ALL TIMES PROTECTED AGAINST POSSIBLE LOSSES!
CLOSE OUT WHEN TRADE GOES AGAINST YOU.
6. Protect your profits by stop-loss orders. Let your profits grow when you see your stocks advancing.
HOLD OUT FOR LARGER PROFITS!
7. Do not hesitate to take your profits; you may be able to re-buy the same stock at lower prices.
SELL WHEN YOU THINK THE MARKET IS DUE FOR A REACTION!
SELL AT THE TOP * * * NOT AT THE BOTTOM
BUY AT THE BOTTOM NOT AT THE TOP
THE SEVEN PILLARS OF STOCK MARKET SUCCESS point to JAZZ