Friday the 13th - Redemption (Part 2750)
by Tony on Nov.13, 2009, under The Gooch
I completely redeemed myself going both ways today - long and short. Almost a $3k day, bringing average daily profits up to approx $800/day.
I am a short term trader, however, I advise caution on the bulls, as the mkt seems very heavy here and i see some bearish signals including weakness in financials, small caps and major resistance around 1100 on the S&P. That being said, I wouldn’t be surprised to see the bulls wash out the shorts one more time. I don’t think this market will give up until the earlier of (a) the shorts getting exhausted or (b) the beginning of the new year.
Enjoy the weekend.
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