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.'**
Wednesday, January 25, 2012
"To be successful in the markets, you have to make the initial conscious commitment to being the best you can be and to love every moment of what you are doing." - TRADING OUTLET
The market made a nice turn around from the negative open and finish on a high close.
A positive Fed trade mainly due to favorable actions coming from the Fed itself.
Bulls are roaring in pandemonium and the bears are in the dark.
As I mentioned earlier in my post, the chart below looks identical from the open yesterday.
Might finish same as yesterday, in between the open and the low of the day.
The market is descending as shown from the Globex overnight session.
Seems a repeat from yesterday's trading session.
Tuesday, January 24, 2012
"Any professional field requires commitment and willingness to go through successes and failures. The failures can be the greatest teachers. Study the failures to develop into a better trader. Perseverance will be the key to a successful trading career." - TRADING OUTLET
The market drops in the open and did not recover from its opening price.
It recovers a bit but stayed flat on his "belly" till the close.
A tough market to trade!
Exited at 12605 for a loss of 5 points...chart doesn't look convincing for a breakout...