Tuesday, August 10, 2010

Now Bearish

As a trader, you have to be willing to change on a dime and I've done so and might do so again. The market action of the last few sessions is now making me think we are likely to go down a bit from here in a continuation of "range bound trading" that we have been in for several months. I was hoping to break up and out of it but the 1130 area on the S and P seems very resistent. I'm 100% short now and this may be the case for weeks, or maybe just a day or two.

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