As expected, the Dow continued moving up today and remains in the upper half of the new ascending RTC channel as shown here. Although the candle looks like a hanging man, I tend to discount that since the long tail is largely an artifact of the "ringing" caused by the Fed announcement this afternoon. The Dow went into its usual Fed day antics right after that time before finally settling down for a sedate 26 point advance. So my long hat remains on.No trades today. CIM decided to reward its investors today by diluting their shares with a huge new offering at 3.86. Thanks a lot, CIM. CIM instantly dumped to that level down from 4.04 the day before taking all my profits with it. Fortunately my entry point is 3.99 so the damage was limited. And I am really only in this stock for the dividends, so all is well - for now.
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