12 minutes ago
Tuesday, March 17, 2009
Due for a pull back but when?
Sitting on the sidelines while the market moves higher yet again is no fun.Discipline is the key, no one made money forcing a trade.If you really look you might catch a move for a few cents here and there.The sentiment is overwhelmingly short here due to the over bought market.DOW is not far away from the December lows and S&P is running into the magic 800 number soon.So there is resistance ahead and conditions overbought.Not to mention the volume was quite low. We'll get the same BS from Mr.Ben in the afternoon, the inflation numbers will most likely bullish and no one cares about the crude numbers. I'll short SSO,GE or go long FAZ if things turn sour.If we have similar action like today I'll try to day trade and scalp some cents.
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