|Turn back the clock|
|Written by L.A. Little|
|Monday, 27 August 2007 13:20|
It's as if Friday never happened as today they turned back the clock and brought prices right back down. Well, in reality, it wasn't quite back to Friday's opening levels and certainly not on the DJIA but it was close elsewhere. Noise Friday, noise again today. The only significance I see was that we went up to and over Friday's highs and then closed back under then on price with low volume. We'll have to see if that matters tomorrow.
In this environment it is critical that you honor your stops. Just look at the FXI which I had to honor a stop on my short from Friday morning early Friday afternoon. It took out that stop on lighter volume when making higher highs. This morning it did a gap up and run on rising volume. That market is something else. It reminds me of the NASDAQ back in early 2000 ... straight up.
Play smaller, play faster is all I can say right now and of course to focus on your future; figure out what you want (conceptualize it) then figure out how to get it (actualize it). The future truly is in your hands as you have the power to change things. Take care. See you tomorrow.
|Last Updated on Monday, 27 August 2007 13:20|