Thursday, February 06, 2014 5:33:03 PM
DJI Chart Problem imo is the volume today was a bit less than the 20MA vol. Imho, at this point look for confirmation price and volume= higher high and higher lows tomorrow vs today.
That is if it is going to retrace up. On the surface it looks good and if it was an individual stock I would buy it now and early enter, buttttt better wait and confirm with volume tomorrow and higher high and higher low. If it confirms by late day I will be likely be tightening my stops on my short ETFS, for now they are mostly negative 2%-3% and if need be that will be cheap insurance.. I have more long than short, so I prefer the market to go up, but we shall see. I may then buy similar instruments except on the bull side vs the bear side.
Important to avoid headfakes since it seems to be at an inflection point.
That is if it is going to retrace up. On the surface it looks good and if it was an individual stock I would buy it now and early enter, buttttt better wait and confirm with volume tomorrow and higher high and higher low. If it confirms by late day I will be likely be tightening my stops on my short ETFS, for now they are mostly negative 2%-3% and if need be that will be cheap insurance.. I have more long than short, so I prefer the market to go up, but we shall see. I may then buy similar instruments except on the bull side vs the bear side.
Important to avoid headfakes since it seems to be at an inflection point.
Watch your thoughts; they become words.
Watch your words; they become actions.
Watch your actions; they become habits.
Watch your habits; they become character.
Watch your character; it becomes your destiny.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
