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
The bulls made a tremendous comeback to counter the charging bears...it's a see saw battle between the antagonists...looks like the bulls are on the winning side at this moment...still on the sidelines watching the duel...
It's the HFT are taking over the market...
Bulls are charging...will stay on the sidelines...
Exited the trade 10950...lost 20 points...not a good location to put a trade...
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.
