market still feels like it will stubbornly keep chugging higher despite all the reasons why the market should fall. i think it should fall as well but what i think does not matter..most important is what happens with the market, not what i think...
so with that in mind, i decided to continue chasing the trend and bought long today. may turn out wise or may turn out to buy at the peak...but if there is a reversal, i plan to get out quick...if it keeps going, i will not have to be mad that i didn't make any money...this is how i want to trade in the present and future as it has what worked best for me in the past.
Monday, July 4, 2011
Friday, July 1, 2011
6/30 - 1 min
the market continues to be strong and is making more believers of the rally but still many don't believe it...i am in the sideways camp where i really have no idea if this will go way higher or stop soon and fall back down...sentiment-wise, it really doesn't feel like we are gonna have a much bigger drop soon...more likely to go higher actually...weird huh?
but i think techincally, we need to see where UUP goes...breaks down and we have to buy with both fists...if bounces and goes higher, then we will have a nice round of selling...watch that and keep ahead of the news...
but i think techincally, we need to see where UUP goes...breaks down and we have to buy with both fists...if bounces and goes higher, then we will have a nice round of selling...watch that and keep ahead of the news...
Thursday, June 30, 2011
6/30 - SPX follows UUP
this rally is quite strong...and this chart shows where it might go next...no better chart at the moment for prediction
Wednesday, June 29, 2011
6/29 - 1 min
1 minute review:
market sure feels stronger than i expected...NYMO is way overbought but I feel there is so much doubt of this rally that it might actually go much further...let's just say that i would feel better holding a long than a short or nothing at this moment. news of greece and credit cards was supposed to be the bullish reasons for the rally today but i think its just buyers wanting to get back in on this...also, with today's actions many of my bearish - variable setups became null...i feel the smart money is bullish..but honestly, i also feel quite confused...
market sure feels stronger than i expected...NYMO is way overbought but I feel there is so much doubt of this rally that it might actually go much further...let's just say that i would feel better holding a long than a short or nothing at this moment. news of greece and credit cards was supposed to be the bullish reasons for the rally today but i think its just buyers wanting to get back in on this...also, with today's actions many of my bearish - variable setups became null...i feel the smart money is bullish..but honestly, i also feel quite confused...
Friday, May 20, 2011
Friday, May 13, 2011
Saturday, May 7, 2011
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