Saturday, March 17, 2012 11:44:09 AM
Price has now moved into a 3 day channel with the close of Fri at the high end of the channel. I decided it was time to pull a little off the table, so I cut back to 100%.
Fri's range was very confined. Prices could break out to the upside, but it seems there is a lot more room for bad news than good. Either way I sorta win. We will see what gives Monday.
Certainly no sell signal at all from this chart, so staying 100%, I hope was a smart move.
For a rare week, SPY actually out paced IWM 1.99% to 1.70%.
Fri's range was very confined. Prices could break out to the upside, but it seems there is a lot more room for bad news than good. Either way I sorta win. We will see what gives Monday.
Certainly no sell signal at all from this chart, so staying 100%, I hope was a smart move.
For a rare week, SPY actually out paced IWM 1.99% to 1.70%.
Trade the Charts and not the Heart - Expect the trend to continue until it doesn't.
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