Monday, April 20, 2009

I’ll be honest - I blew it today

Every single argument for selloff I stated in this post

S&P500 Opinion for next week (VIDEO)

itself and in the video as well all came together today (Sunday night really) and I was trading against myself all the day long - my ADD kicked in and... and... very mad at myself, the good news for subscribers is - I was not broadcasting my today’s trades (well, only in the Trading Chat, but guys and gals over there know the truth about explosive combination “DavidDT + Trend”=”I hate trends”)

But...there was something wrong what I have not quite figured out yet, about today’s selloff. It did not feel like selloff after good run up. It did not feel panicky in no way. It just felt plain It felt like LIQUIDATION - and there is not much to liquidate now...except for, may be, tomorrow “they” will say that huge hedge fund blew up OR Treasury Sec Geithner will give market a very bad news and it “somehow” leaked today. I will be going over the charts later tonight to figure out why I, who awaited for selloff so eagerly, now not happy with it. The only thing that I figured for now is: TDSetup Sell on SPX was in progress (seeing in the same video), was suppose to complete on Wednesday - it is RECYCLED now! I suspect (just a gut feel for now) that we might be facing yet another rally - REALLY need to look at a lot of charts tonight.

Posted by DavidDT at 4/20/2009 07:09:00 PM 0 comments Links to this post

[annotated chart posted on Contributors Site. If you are interested in becoming contributor of Trading to Win - here is how.]