Tuesday, September 20, 2011

Correction Over?

The market corrected today as I had been expecting and managed to retrace into the minimum Fib area and test the Trend Average at 1188. And unfortunately I was having internet problems in the morning so I wasn't able to play the bounce. But I bought some BAC I had sold last week, so at least I was able to get in on that. Technically, tomorrow could see the markets continue the rally as the TA was successfully tested as I was expecting. However, there is still the possibility this correction is not done, so my plan is get long on any TA test, go short on trades under the TA (and hedge my BAC position).

I am also going to the UK for business for a few days, so I won't be updating as much in the next few days.

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