Monday, March 15, 2010

Hanging Man Candles

LOOKING FOR THE MARKETS TO STALL UP HERE AND START A SMALL RETRACEMENT. But please this IS NOT A SHORT SIGNAL!! Raise cash and lurk in the shadows until more charts setup. Need to at least expect a choppy retracement from here on many indexes. Be ready, choppy corrections ARE EXTREMELY unprofitable for the majority of traders. Most traders will lose most if not all their profits from TRENDING MARKETS by trying to be beat CHOPPY markets. Still bullish overall but need to expect more "soft action" and look for many charts to start some sort of retracement for here. I imagine the pullbacks will be shallow and dip buyers will be looking to reengage new longs.
For now, i am 100% cash and happy to stay that way until better charts start to reemerge again.


Anonymous said...

Aparently it was just some sort of consolidation to Suck in more Perma Bears.

Stewie said...

Bulls keep on truckin! I couldn't help myself and took a long position in VECO this morning.

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