Thursday, July 26, 2012

Bullish again

I said yesterday that these next few sessions were the bears best chance to make their case and today it seems like they threw in the towel, so now we're back where we were 4 months ago. And as I have been saying, if lower lows can not be made then prepare for higher highs as there will be a break out sooner rather than later. I've also been looking at gold and it seems like it is about to break out of its range and in turn confirming the markets anticipation of more liquidity. So it'll be interesting to see if gold breaks out in the next few sessions before the Fed meeting next week.

Long Term Portfolio: 100% Long
Short Term Trading Strategy: Shorting intraday extremes, closing same day

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