Observing the stock market technicals and exploring opportunities to trade
'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**
Friday, September 30, 2011
It's a very volatile open, wider stop should be applied in this kind of market...
Sell short at 10930 with buy stop at 10960...
The market is descending as can be seen from this 5-min. chart.
It might be a sideways move all the way to the close and/or a possible short trade.
Either way is the trend for the day.
Long trade might not be workable.
Let's see how it goes.
Thursday, September 29, 2011
The bulls made the last effort to conquer the rallying bears before the close.
It made a dramatic "V" pattern forming a victory for the bulls.
Though it did not finish/reach the previous high, but at least the market has shown a significant response.
Checking back the market two hours before the closing seems like yesterday.
It went down the hill after it surge in the open.
Bears are out there roaring in pandemonium.
Let's see if the bulls can fight back before the close.
Done for the day...90 points gain total...heading to the driving range to practice some swing drive...see you tomorrow fellow traders...
Target buy point at 11100 got hit for a gain of 50 points...trading on both sides is the right way to trade the market at this time...either the market is going up or going down you can make a trade...that's how trading is all about...
