Wednesday, March 4, 2009

WATCH GE DAY

I had quite the night last night, having returned home at approximately 4AM, so sorry for the delay. The market is up +100pts, yet my bank shorts are doing mighty fine. I will cover enough to just keep a 10% short position/90% cash position.

As for the market, nothing has changed. We are still in the neutral range, but I will be cautious here. I do not know if we head higher or lower. The chart says that we cascade down further, but we are extremely oversold and are overdue for a bounce. Keep a large cash position with you.
Posted by John C. Lee at 3/04/2009 10:46:00 AM

2 comments:

Cliffynator said...

John, love the site and how you communicate your ideas. I just started reading the Trading 101 series you have on WallStreetSurvior, and I really appreciate the Candle and MA info!
But you've got a TON of links over to the left side, and I saw your book list is over 500 titles. How do you find time to research and trade?

March 4, 2009 at 7:22 PM
John C. Lee said...

Sorry, I had to turn on the comment moderation temporarily. That idiot's comments were too dumb. Quite funny while it lasted though. I won't hesitate to turn it back on should his dumbass decide to resurface.

I recommend a minimum of 1 hour per day to read up on technical stuff and look at as many charts as possible. Start by exploring what each link has to offer.

March 4, 2009 at 10:55 PM

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