Thursday, September 1, 2011

Test of the Trend Average approaching

The market started its correction today as I had been expecting and it remains to be seen what type of a correction this will be. I am assuming the market will test the TA at the very least and how it reacts there should give us an idea of what will come next. But given the fact that the intermediate trend is bullish now, anything short of a sell off will be just a correction and an opportunity to load up on longs. Tomorrow's job report will be a great excuse for more selling so we'll see if the Fib retracement area comes tomorrow. I am short and will start covering once the targets are met.

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