Over the last few weeks, it has been really a test of patience as i watched how the market ding dong without any significant upside or downside. I had a choice to trade intra-day, but alas i decided that i will stick to my plans of building a short portfolio. The lacklustre behaviour of the market send boredom to my life. All these years i have been very active in the market and enjoying every moment. Last few weeks has been extremely bored. Even as of today, i wouldn't say it is a good time to load up. I couldn't see any evidence of good bullish or bearish tinge. Recent actions has been, long also die, short also die. While there are small swings to profit from, but i been there before. The year was 2004... then we were trading 3 steps down, 2 steps up. What happen to me was, i made profits from the small swings... pocketing 2 to 4 cents one way. However, it drained my account. How did that happen? Because everytime i lose, i got hit 3 to 5 cts in addition of the brokerage. This is surely a lose lose game. Also, trading this way tend to miss the multi-baggers.
Actions hots up last Friday when we went down ferociously but support still holds. Now this is what caught my attention. Next thing i am watching out for will be how the market trades at the resistance. Currently my opinion is market may be forming a lower high. I just have to sit out the rebound and then add to my shorts. Yes i am still holding to my shorts just as i mentioned, i am interested in a short portfolio.
Now if market is to be bullish, i would see myself cutting loss on my shorts as they would have broken the lower highs and forming a support. That is where i will try to long.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
