Grinding Away

As the saying goes, a picture is worth a thousand words:

Within my screens, today's bottle rocket award goes to Contango Oil & Gas (MCF) which blasted to the top of its uptrend channel:

For today, the bulls will say we held support and we're consolidating ahead of another large scale upside breakout (ahead of another rate cut and better than expected earnings) while the bears will say that its only a matter of time before the market rolls over again amid these overbought conditions. I say, be patient, keep those stops tight, take some easy profits (like in MCF) and prepare yourself for the next few weeks. The time to do your work is now, while the market grinds away before those reports come out. Are you ready?