Wednesday, June 10, 2009
MARKET COMMENTARY (6-10-09)
There is a string of doji on the daily which will mark a continuation (as I've said many times before) to the upside, hence my long-time daily huge long exposure. The technicals continue to support further upside movement. If you don't believe in the power of charts, then just quit trading right now. You are a disappointment in my eyes.
A nine point gap up will mark a sustained gap up. It will effectively break the market out of consolidation. It should also force short-sellers to cover, unless they want to stand outside of a 7-11 with a cup in their hand. Pay attention to the range, it's trying to tell you something (I've drawn this range for you for days now, so don't dismiss it).
I am currently up +167% YTD (and don't forget - up over 100% for 4 consecutive years). Keep betting against me, and I'll come visit you outside my local convenience store.
Here are more setups (don't forget the ones that didn't breakout yet in my previous posts). My parameters were $10-20 stocks on 1M+ volume (I don't trade these stocks, but like I said, they are for those who don't want to take large risks $1 stocks):
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