3 steps up, 11 steps down, that is the reality of the market since 3rd August 2005 where it started to turn down. Sound like some dance steps? Tango? Cha Cha? I wouldn't want to get vested at this stage seriously. As I have said before, there are times to go long and there are times to short the market. But surely this is time to just sit aside and watch.....at least for me.
If you have the time to watch intra day, ability to buy at least 30 lots, you can consider trading range play....I.E buy at support and sell at resistance. Otherwise if you are like me, having a full time job and can only look at market at night, wait for general market condition to get better before you trade.
I am sorry but looking at my watchlist, again there are nothing interesting to post. Most are in consolidation mood, not a single breakout insight. This includes the spectacular tech stocks that shined today. I wonder how far can they go before they sucummb to gravity. Sentiment has not recovered yet, if you are unsure, stay clear.
Regional Bourses has fallen too and the price of oil keep pushing up. Rocky times ahead! Legends normally spend time away from the market when it's heading no where.
Let's spend some time with our loved ones since they are the reasons why we are working so hard to provide for. If you have not been telling your wive/girl friend/misteress that you love them, do it now! A happy mind keeps your level of psychology healthy and strong for the market! : )
