Friday, January 7, 2011

ups and downs


 there was good and bad today.  My best idea, CCME paid off and I decided to take all the profits and raise cash as the markets began to tank.  The close was much stronger than I thought... but then -- that's nothing new.

  I decided to listen to the indexes and play defense... raising cash on the extended market.  The last 3 candles are identical to the April highs.  So that was what really got me defensive.  If it plays out the same way, it'll be a brilliant call.  Most ppl are not defensive yet..  So front-running a panic may save the day.  Either way - I can daytrade strength.  I just don't want to hold much here until we get a correction.

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