Friday, January 08, 2010

Ping Pong

There's absolutely no way I can top DDTs mother lode of DM charts from last night, and if you have time over the weekend study and re-study them all because it's not only the best way for us to learn DeMark, they all have a message to tell. So Friday brings us more kool-aid consumption with the jobs reports, but we have one more economic item on the agenda for this afternoon, and that's Consumer Credit at 3:00 PM. That announcement has moved the tape in the past, but I keep needing to remind myself the news matters not a hill of beans, only the big game hunters will move this tape at their will. Although I realize everyone has an agenda and something to sell, including Bill Gross, I have to admit he wrote a very good article that you might enjoy reading as well. Below are a few charts to share, including the weekly chart for SPY below as well as the formidable TRAN chart once again challenging the same 'ol, same 'ol zone. I also played around a little last night with NYSI, and I admit this is a fantasy chart for now, but let me dream a little. It's been a long week for sure trying to trade this beast, but we've made it through with fairly good results all around in this first new week of the year, and I'm certain we have much more to come our way. If you have time over the weekend with nothing to do, please feel free to create a trading document for yourself down below and have some fun with it. Other than that... trade safely today, plan your trades, pick your spot and only then execute. This is the best trading team yet, and just keeps getting better every day, so pat yourselves on the back for a job well done! I'm going to take off right after the bell to head for the slopes and enjoy this global warming tomorrow. Wherever you are this weekend and whatever you're doing, spoil yourself a little and take time to enjoy life beyond the realm of this ping pong game we call a market. That's an order! ;-)


Be the Penguin! You can do it!

And HUGE THANK YOU to OSIKANI for sending this hilarious cartoon!
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