this market is really struggling to declare it self. volatility is just now starting to calm a bit. the market's price action in recent days has shown a desire to move higher.
the uptrend is likely to be short as things appear short-term over bought. be ready to play this by ear. we can also see that the nasdaq bullish % is looking exteneded.
market pressure could change direction anytime now. for now i have closed and will hold back on taking my typical large position in a broad market etf.
i will consider fast, short-term trading in individual stocks.
07/20/2009 i will take a 2% risk position in YHOO and a 1% risk position in STEC
these two will be traders, looking for quick 3% - 5% gains then close.
i'll continue to hold BAC for long-term( i hold 1000 @ 13.5, will get 1000 more shares at these slightly lower prices)
h'mmm, what will my 2000 shares of BAC be worth a year from now?
remember, this is all just a bit of food for thought. always do your own homework before pulling the trigger, that's fun trading!
