Today it is just tough, just when I thought a breakdown would happened, the market avoided that and traded in a narrow range. It tells me there was still some demand left. To judge whether this demand is weak or strong, I would need to watch the forces of supply and demand in action. I might take a position later or I might not, I can't see a reason to go long or short. Like I said, anything is possible in the market. If things doesn't go according to what you planned, you need to switch your thoughts fast and either cut a loss or take a position in the opposite direction. Like I shorted yesterday and expected a huge fall, demand came in so I covered my shorts to protect my profits first or today I shall suffer amputation without anesthetics.
I think the market has room to go further up, however the activity will be narrow. Little by little it trends, until huge supply sets in to washed down all the premature bulls. I don't know if that would happen, but I am judicious.
Ronald K - Market Psychologist - The Big Speculator
I think the market has room to go further up, however the activity will be narrow. Little by little it trends, until huge supply sets in to washed down all the premature bulls. I don't know if that would happen, but I am judicious.
Ronald K - Market Psychologist - The Big Speculator
