'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Wednesday, January 5, 2011

Observe & Trade






The market recovered from the steep decline yesterday.

The three core index went on a vertical leap except the TF.

Showing the 10-min. chart from the QQQQ (NQ), SPY (ES) and the DIA (YM).

Buying late in the open is the right entry time for a long trade.

Exiting at the close is not a problem for they behave well.

The bears are afraid and nervous!