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Been a while since I posted some charts. That’s been intentional. I haven’t done the statistics to verify it yet, but over the years I’ve come to believe that the weeks after a day like Feb 27 are good times for swing traders to take a break. Daytraders, well, happy days are here again, but I only get to daytrade one day a week (maybe). For the swingers, and especially for the long-term traders, the wild oscillations after a volatility spike usually just serve to stop those positions out over and over. It broke, I’m short! Buying’s coming in, I’m long! It’s failing, I’m short! …stopped out at every turn.

I think, for many prudent long-term traders, Feb. 27 stopped them out (i.e. they went from long to cash), and they haven’t gotten a signal since. Swing traders got a nice little intermediate double-bottom, but the long trade off of it is now losing wind. Here’s the big picture on a weekly chart:

(DOWNthrust and pullback)

Me, I have one little short I put on with a stop above the Feb highs, and otherwise have been just daytrading a little and paying attention to other important things. Y’know, life.

I do like the way my old favorite McShort (AAPL) is looking:

I’ll be sorely tempted if that one rolls over. With CNN, CNBC, Hollywood and 99% of the blogosphere so certain that Apple’s such an obvious buy, I can’t help but look for a place to sell it.