The trendline I drew last night gave me a SHORT signal for the open, I did not play that today, TOO MUCH wierd action, BUFFET and FED tomorrow, the market will always be there.
I don't know which way this is going to break, but by using TA you can at least determine a few things, one is potential direction, other is if WRONG where stop should be, so that YOU have already realized what risk in trade might be.
AT todays lows, I switched back to DAILY chart and saw a bottoming process forming that was worth taking because with Transports up 4.5% I just didnt see how rest of market would fall apart....TODAY
VOLUME has CONTRACTED ON EACH OF THE PAST 2 rally days, this is not consistant with the start of ANOTHER LEG HIGHER IMHO.
IMHO, the next BIG move coming is going to be DOWN (suprise!!!),,,,lithe demand, little reaction to severe selling = prices may not be low enough to attract demand.....sellers pulled back a bit, allowing prices to FLOAT higher
Even a BUST OUT higher could put my CCI indicator at overbought and the gains even if they DO come won't be backed up by good volume is my guess.....so far that is a fact.
BIG DEAL BUFFET BUYS RAILROAD....maybe he wants to put on a conductor hat and ride one? In MARCH he could have paid $75 adding his 25 premium to March lows....so why not pay $100....That goosed Transports....tonnage has been on decline...but one day....
In trading, we just are playing the odds, as best as anyone can figure out....well it's a GAMBLE.
If I hear one more asshole on TV tell me...."ecomomy is on the mend,recession is over....." I think I may explode.
As I have said if this is all make believe, when the music stops the door wont narrow it will shut and enter a black hole space continum time warp never to be seen a again..... ENJOY!
Let's get the SILLY idiotic 12 BALD MEN Meeting out of the way and then see what happens, expect NOTHING in the AM then 2:15 WEEE we get a few sentences from the wise asses I mean wise men....then let's parse every doogone word to see if even ONE is changed....why don't we meet at my house I got an OUIJI BOARD....
Duratek
No comments:
Post a Comment