Stocks Slide Once Again on Mixed Volume
Source: http://www.market-speculator.com/2009/01/13/stocks-slide-once-again-on-mixed-volume/Posted on Tuesday, January 13th, 2009 | In Market Commentary
A mixed market is a difficult to trade stocks.
This market is not for long term investors. Buy and hold is, well, DEAD. Time frames must remain short and losses must be kept small. Profits too, will be small. The nature of this beast is a choppy market and in choppy markets one can only ride the “bull” for so long. Much like a bull rider his 7 seconds of fame is much like a trader in this market. Keep your TIME FRAMES SHORT!
Last week I warned in Joshua Hayes’ market wrap on http://www.bigwavetrading.net that if you had profits to book them ASAP. That turned out to be an excellent piece of information. Same goes on the short side.
Pay attention to the S&P 500 at 850.00 today. This is support and it needs to hold for this market to have a chance of rallying from here. If not we are looking at more lows.
Keep nimble out there.
MS
Last 5 posts by Market Speculator
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 About Market Speculator (http://market-speculator.com)
Market Speculator began his market career shortly before 9/11/01. The methodology he uses comes from the greatest stock market traders of all time; Livermore, Darvas, O’Neil, Dryfus, etc. Decision making is based on price and volume while stock screening is done by growth in fundamentals. Much like William O’Neil’s CAN SLIM approach to investing Market Speculator focuses on a narrow amount of stocks and lives by cutting his losses early. |
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