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?
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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