Wednesday, August 15, 2012

How much longer?!

I don't know the official stats but I think the market managed to set some sort of record today. The market remains stuck in the same range we've had since last week but perhaps we'll finally see buyers jumping in tomorrow, I just can't imagine the market doing another sideways move. The market could easily now take on 1422 on the next bullish wave as recent gains have been solidified and now the market has a base to rally from. The trend average has risen to 1401 and the market could test it again but for all intent and purposes, it is ready for a rally. I'd be surprised if the market fails to challenge 1422 in the next few sessions.

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

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