Friday, November 19, 2004


I was expecting a big move, but to the upside, not downward. If you check the posts over the last few days, I thought the market was topping, but it continued higher for some sessions. If I were trading, the losses suffered in the market moving higher wouldn't have been tolerable and I would've been stopped out before this downturn. And it is a downturn--how far, we'll have to see what the price bars tell us about the psychology of the market at this time.

The price bars are still green, but if you look at the last few tops, if you stayed in the market until the bars changed color, you'd give up too much of your profit.

What has this exercise taught me thus far? The target setting I originally had still seems valid. You can't chase the market and get the last few "drops" of dollars from it, you just need to wait until everything is a "go". But can I do better in predicting the market? We'll see on this next move.

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