This blog is geared towards improving my trading knowledge and recording my trades. I am not licensed to give financial advice. Trade at your own risk. It is your fault for losing in this money game.
Tuesday, January 24, 2012
I read an article that said the market has been going down because of Europe's debt problems.  So i check the chart for SP500 to see how bad.  Im expecting to see a big down bar and potentially a stop out since i "entered" a long trade about a week ago.  From what i see on the chart, i wouldnt even consider price to have "gone down".  The chart looks great and i would describe it as - price has steadily risen since i went long.  Financial news is terrible.  You would have to be emotional and gullible to believe any of it.  Keep going up S and P.
Thursday, January 12, 2012
Saturday, January 7, 2012
Hourly chart has been wacky so i would still avoid any trades for it.  Daily chart of sp500 futures is finally getting close to 1300.  Price is in a strong uptrend at a steady angle, so it could last for a while.  I would probably go long if it closed above 1290, which is a weekly high.  There is very little resistance above 1290.
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