Thursday, April 8, 2010

Random Market Musings

I personally think that the bulls are still in charge here. I think shorting is still too premature. The rally these past few weeks has been orchestrated brilliantly by the bulls. Why do i say that? because sector rotation and leadership is being shifted in and out continously. Every few days a different sector or sectors takes the leadership role while other sectors retrace and as a result the market keeps climbing the wall of worry.
On every slight dip, market place participants freeze expecting a major selloff to start only to reverse back up. Sucking bears in and shaking out weak bulls and shifting higher leaving everyone frustrated who is thinking too much. Forget fundamentals right now, let the charts lead the way and you might actually enjoy this rally!

Good trading.

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opader said...

Hey Man,

Great analysis as usual. I totally agree with what you're saying. I am a momentum trader. I time the market (I am long now, been long since 2/23/10) and trade stocks with good looking charts. My results are posted here:

These are actual trades.

Stewie said...

awesome trades opader!! i will book mark your blog.

Thomas Shawn said...

I think you are correct.

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