Tuesday, April 1, 2008

Are You Kidding Me??

So I did one trade today and it was to cover a short for a break even, not bad. I was just looking at my charts, and the DJIA is now up about up 1000 points off the Jan. lows. Getting ready for some SHORT set ups. I won't chase this rally and think the path of least resistance is lower. Too much too fast. It may need to run a tad higher first.


Stewie said...

upside. I am looking for one more push higher probably trmw, retest the recent highs and then tankage. If tankage doesn;t take shape by late thursday or friday. then north is where we are headed.

upsidetrader said...

hey stewie
we'll see if the bulls want to recapture the flag in here,im very skeptical but I was impressed with yesterdays lack of giveback. a big chunk of Tuesday was short covering and new month shenanigans

Stewie said...

optical illusions??? perhaps. first test for bulls in quite a while. let's see how they deal with it. eagerly awaiting Art Cashin to come on CNBC and chime in on this market.

upsidetrader said...

as usual, i will play the cards the dealer gives me

About Me

My photo
I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.