Thursday, March 18, 2010

Don't ask

I have given up trying to figure out what is happening in the short-term. This is different than figuring out what to do. For the former, I'd be sitting on a goose egg in the trading account. For the latter, we're long despite what we thought.

Plain and simple (book plug), individual stocks broke out from patterns. Now they are all overbought so we ride stops and sleep at night.

Anyone notice the big reversal in Alcoa today?

2 comments:

Ramu said...

I guess, this is the next bubble forming. No matter what happened, people seem to make the same mistake.

Quick Takes Pro said...

They always do. That is why technical analysis exists. People tend to act in similar ways given similar circumstances.