The New CS Board

[gdl]

Well I was forced out of my trade at 3:30. Forgot it was settlement day. bought at .30 and went out at 2.06

A nice 20K profit. the total for the week was over 50K.
This is NOT a typical week. In fact there are many weeks where I trade in my head only because I don't see any major moves. Out of impatience I do gamble but not with a lot of money.

Visually, when I look at the monthly chart pattern it looks complete. I however think we are just not done with this move. Perhaps one more try at rallying Monday and another drop below todays lows. I don't however see any big drops further. My target of 1950 doesn't seem to be in the cards.

Because of this I am NOT setting up for trade next week unless something changes my view.

People that are ultra bearish should consider that earnings will ultimately drive the markets and right now it is hard to imagine next quarters numbers disappoint. We will know more on how the overseas economy affects us in January when the CEO's give their projections. The bias is still up till next quarterly review. We should be very near a bottom, if not there already. Monday might be the "tell" I need.

Good luck to everyone.