Wednesday, June 10, 2009

Dull market?

While I still clash a bit with my editor on some headline issues, when I sent the article in today the Dow was still down 90 (before closing down only 24) Therefore, the tight range, low volume affair we've had for the past 7 sessions remains intact and shorting is premature.

A chat room I follow pointed out four consecutive days of doji candles on some market indices. And hourly S&P 500 shows an ascending triangle.

All told, I hold on to my semi-bullish short-term view as I wait for the market to finally top out. There is so much more money to be made on the short side but you have to be patient, grasshopper. (dedicated to the late David Carradine.)

1 comment:

William said...

And today (Thursday) could be interpreted as a shooting star...