Monday, November 10, 2008

CALL BUYING today was BEARISH (this morning)

I told all of my IM clients about this market setup today, which was positioned for a FALL due to several observations.

I simply can't continue to give away this information - it is extremely valuable and it is what I have taken years to learn and many losses along the way.

I am considering creating an account at Collective2 where you can follow the signals there and subscribe to the service and you can have an account auto-traded based on what I am seeing with the 3-D view of the market. www.collective2.com Once I get my log-in code I will alert you with a post here so you know how to find me.

Today's closing buy signal was more of a sign that the market had seen enough put-buying on Friday to warrant a strong base in place for today. However, if we test Friday's low tomorrow or later this week, then I will have to wonder how strong this current base is and then I may change my tune to suggest that we will violate the lows seen in the last month.

Let's take one day at a time with this strategy.

I am reading some great books lately - I imagine some of the pearls of wisdom will shine through to this blog.

Enjoy the day.

SIDE NOTE - One last thought - I am married to my wife, my kids, my family, my house, my responsibilities as a father, brother, son, and to God - so I don't have to be married to my investments. There are many ways to view the short-term nature of trading and its impact on the market itself and on ourselves as individuals, so I will assume that all of you are already aligned with short-term trading.

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