September 2, 2011

Bearish Flaggishness Part Deux continued...



Pure luck would have it that the Dow reversed right at resistance and the top line on the bear flag. I thought it would at least make an attempt at 11,900 first but the jobs numbers may have been too much for the bulls. For now at least. Would not be surprised to see a test of the lows again. As has been the case recently, day trading is best option right now. I am getting close to a month without doing a trade though. Perfect storm of vacation and backlog at work has given me a good time to take a little break, involuntarily in part. But that is winding down a bit and should allow more time for some intraday trades if conditions persist.

Have a great weekend everyone.

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