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Wednesday, November 26, 2008
TODAY'S ACTION
Doji day! Yes it was. Nothing really happened and the day was plastered with indecisiveness. If you tried to get in-and-out throughout the day, chances are that you didn't end up green. Typically, I would enter short positions at the end of the day, but today proved, once again, that the market likes to show its altered personality in the last half hour of trading. Thus, I remained in cash once again. Days like yesterday mark a 50/50 chance for a sharp movement in either direction, and it's usually a reversal. Many sectors look like they will reverse imminently, so be warned (Example: Solars).
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4 comments:
John - I am seeing a cup with handle on the 10 day spx and a reverse head and shoulders on gld. Am I crazy?
looks like it, but the patterns evolve with each passing day.
John - Are you doing your premium stock picking newsletter for December? I was going to sign up today and noticed the Pay Pal button is gone.
Thank you.
Send me an email.
JCLee84@hotmail.com
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