Thursday, December 27, 2007

Still sitting on hands


This market started out so slow it just lulls you to sleep and then when it finally moves.... This was a very simple all down day. Started with a double top that was confirmed and then proceeded to make lower lows and lower highs the rest of the day. Simplicity confused by insisting on confirmation from a higher order chart. Not as easy as it looks, though. It was so thin I left for the late afternoon. And after blowing out a QQQQ long from yesterday at a small profit I got sucked in to buying it back slightly lower and it ended down on the day. Why did I get sucked into taking a long when the trend clearly was down all day?

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