|Sometimes things do line up just right|
|Written by L.A. Little|
|Friday, 22 June 2012 05:30|
Yesterday I had penned a piece for Minyanville (need to log in to view) and could not publish it on TA Today until the afternoon per our agreement with Minyanville. Most of the time I write about what is setting up a day or so in advance but Wednesday night it was clear that enough pieces had set up just right that yesterday we should see some selling. I suggested 1.5% to 3% in the article. We got 2.5% in a day. I was able to position members appropriately without sharing details of the article a prior but then that's the benefit of membership. Today the markets have a little dead cat bounce going on but I expect it will be difficult to get much movement either way today since its Friday, its the summer, the European meetings are next week and the disillusion is large again. The technicals are mixed here with some arguing for lower prices and others not unlike Wednesday when they were line up.
In trading it is important to take advantage of those situations where things line up and do a lot of nothing in between. Sure there's a trade everyday available but that doesn't make it a good trade. You have to wait on the good trades; constantly monitoring and assessing. When it all lines up, then that's the time to make your move.