Thursday, November 4, 2010

Thursday

Opening my charts, I like it short right here. This market is so far out of bounds it's ridiculous. My advice today should be taken with a grain of salt, because I have a strong bias short, after spending 2 weeks talking to local business owners who are suffering BADLY, unemployment is way over the top, and the Naz is 80 points from the high in 2008?? What a crock....So I will likely keep banging shorts today. If you see me getting long, it means I have overcome my attitude  ;-)  As a trader, these *ideas* should not matter: price is going up, you buy. Price is going down, you sell. You leave your bias in the closet because the Market is going to do what it's going to do.
We have a big gap, all time frames are screaming higher, we have the potential for a trend day, they may shoot for 2200 today...totally possible. Again...I don't buy it, and frequently get run over on days like this, so...like I said, "pass the salt, please"

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