Tuesday, February 3, 2009

Follow the quote of the week ...

Short post today. Busy on planning my trip back home (been away for 3 months).

Nothing much changed. We gapped lower and were able to fill the gap closing perfectly sideways. We did not get any commitments on the upside and remained on very low volume just as I described would occur.

We should remain on lower volume and should not exceed 837-838 on the upside. While this may look like a good short we need to wait it out. We should continue seeing indecision with narrow ranges and open/close prices that remain fairly even.

Wait it out and use this time to read up on strategies and other technicals.

"If you don't know where you're going, don't speed up."

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