Tuesday, May 12, 2009

How the futures fooled me today.

Twitter at market open: "Very high probabilities of a 930 test and possibly a new high. Not trading it long."

Comments at 9:36AM "get ready for a new high today. I know its a contradiction to my previous statements but you have to respect the market."

Well a contradiction it was .... yellow dot is where I thought we would breakout higher in this channel to rally back to 920+.

They really know how to scare every bear out there and make us afraid to even think about shorting. This pattern and this overnight action, required a lot of guts to go short off the open there.

Again sorry guys for such a wrong call, I mean really wrong.

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