Odds are highest we will be stuck in a range bound chop thru out most of december. With every rally, bulls will gain confidence and with every selloff bears will claim victory but i honestly feel like the indexes will be stuck in a hole for a little while longer.
As far as my trading goes and alerts to my subscribers, i am focusing on short term bursts in momentum in some of the few pockets of strengths i am seeing. Stocks like: CAAS, CYD, CTRP, TSL. These are the kinds of stocks on top of my watchlist lately. The play lists are definitely narrowing down but what is working is working well.
So, i'll just stick to that for now until we see a break!
Stewie, what do you think of this tax they want to put on buying shares of stocks? Don't you think that will hurt momentum traders like yourself / or any traders for that matter? the government wants $--bullshit right.
ReplyDeleteHi anon, ya, this tax would be bad news for most of us. I highly doubt it'll pass.
ReplyDeletehttp://money.cnn.com/2009/12/02/news/economy/financial_transaction_tax/index.htm
ReplyDeleteI don't know about that stewie--these bastards need money, and they are going to look under every stone to find it. They don't realize that less taxation is what fuels expansion.