Wednesday, May 20, 2009

It's about time I got back into the act!


I've been in hibernation too long.  I'm coming out and I'm ready to fight.
2D, 5m. - May 20 - The market was relatively flat yesterday and started up on strong internals this morning but faded into a "symmetrical decline" and ended up with a bearish mode.  We made not trades as I have been on the sidelines with a carotid endarterectomy.  I want to thank all my family a friends for their support.  I am now back at home having spent one night at the hospital.
20D, 2hr. - May 20 - The market has had a dominant channel to the upside for the past 6 weeks.  It would appear that we have now developed a downward correction trend that seems significant.  This movement to the downside should be taken seriously.  At the same time the market has a way of confounding us by ripping up in the face of bad news.  Technically it would indicate a bearish tone at the moment.
3M, Daily - May 20 - Long Term Bearish, Intermediate Term Bullish, Short Term Bearish.  The Trend is our Friend.   It is out job to identify the trend of the moment and go with it.  Have a plan, stick to the plan, be disciplined and get out if it goes against you.  Defending our capital has got to be a number one priority.  If we have not capital, we have no trade.

I am glad to be back.

Temporary Surgical Leave of Absence




I plan to be back soon.