Friday, November 4, 2011


The market closed over the TA but only during the last minute of trading so the signal is not confirmed. If I were to trade it mechanically I would have gone long but since I am doubtful, I covered shorts to wait what Monday brings. I am looking to trade short under the TA or stay in cash on trades above the TA at the moment given the fact that the market can surprise to the downside given the fact that there seems to be missing a leg down and there hasn't been much of a correction from this last bullish wave.. patience usually pays.

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