Tuesday, May 04, 2010

It is about how hard you can get hit…and keep moving

It is so sad to see how yet another trading compadre decided to suspend his trading activity (for one or another reason – there might be a lot of reasons why people decide to drop out – trading is one of the most difficult businesses out there)
I'd like to "dedicate" this clip to those who decided to take a break in order to evaluate where they standing at)

There was a lot of celebrating in bears camps today, but you know me – I am always saying "Nachofas" (or may be it is "Not so fast"?)

Bears better hope that there will be bounce tomorrow right from the open…given that that open will be flat, not down – that will really screw a lot of traders.


Because the most reliable since Mach 2009 bottom hourly D-Wave says so.  IF market will go down more tomorrow – entire wave structure will be reset and trading during the next few days/weeks will be nothing short of crazy.  No direction, no duration, 'nottin.  So, lets hope "there will be bounce" and wave B will appear on the chart and that would give us clear trade on wave C down.  That is what we want, right? Good trades we can stay with… No Dave – I am NOT alluding, no, no…don't hit me please!!!
(OK, OK – I closed short positions today prematurely, I did, not shuddup and go away!)
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