DIA has been stalled for two weeks at February’s record highs, likely marking time until the mood is right for the next big thrust. Considering the unsettled state of, well…everything, investors’ complacency has been extraordinary — and I don’t mean in a good way. Funny money talks, and for better or worse, we are living at a time when there is just no shutting it up. As before, a pullback to p=282.74 would trigger a mechanical buy, stop 275.64, and the D target at 304.07 is still short-able with a tight stop-loss if you’ve made money on the way up. _______ UPDATE (Dec 8, 5:51 p.m. EST): The target still looks good as a place to attempt a very tightly stopped short, but there has been no opportunity to ride with the trend, since it has been characterized by a series marginally higher highs separated by swoons three to four times as large. _______ UPDATE (Dec 9, 8:43 p.m.): DIA popped to 303.60, 1.10 points from the target. Since no one mentioned this in the chat room, I’ll assume for the time being that there is little or no interest in trading this vehicle. Comments? Fills? FYI, this vehicle is still a short as long as it continues to hover within inches of the target. ______ UPDATE (Dec 10, 6:20 p.m.): There were a couple reports from subscribers who took action at Wednesday’s top, but tactics varied too much for me to establish a tracking position. Even if I did, Friday looks like it could be a coin toss.
DIA – Dow Industrials ETF (Last:300.50)