Thursday, July 20, 2006
Croesus Again
A glimmer of hope of getting something back from the Croesus debacle. Trading was rough today as I was still short when the market rose in response to Bernanke's comments. The model now switches to a long recommendation as the stochastic rose above 20. In yesterday's post I labeled the beginning of this upward correction in the market wave iv. That will have to be relabeled wave 2. Wave 1 down is therefore complete. The outlook for the next month or so is still bearish, however.
Subscribe to:
Post Comments (Atom)
1 comment:
Hey, The rather limited networthiq is down. I did go long on Friday and even though I am far from a trader, I'll be closiung the positions tomorrow and the proceeds will buy a new A/C unit for da house. Yah, I know, no A/C but this is Seattle and 95% of all homes don't have it and we have it on our sleeping floor only so the rest of the pad gets cool..... Anyway, I'm a pretty decent market timer for not really being one. I probably annoy the beejeeezus out of you because I don't utilize tech tool's at all. Then again, I don't pretend to be good at it as you are obviously pretty talented. Having blabbed obnoxiously, I do really enjoy your comments and logic. I can't fault it and I'd show up to your econ class :-)... I am still expecting a good 2% more rally on the strength of MOT. Happy investing.....
Post a Comment