Friday, October 9, 2009

Deer in headlights

I have trying to find out some oppertunities this week in the market, and I haven't been able to pull the trigger on any of the setups that come up.  To my defense I was pretty late in catching these developments, and would only be a trade chasing the tail of the breakout that already happened.  

I will keep an eye on the charts yet again today, not much conviction in a direction however.  I do have a short term bullish bias now after seeing the strength to the rebound, and taking a look, it appears the long term trend line for the spy was never broken.  That being said, I think this rally is going to run out of steam soon, and will be looking to accumulate some short positions in advance when the chance comes up.

Perhaps today is a buy day for a short term swing?  Market is taking a breath for now - I'll update my positions page if I jump on anything, but the market is out of focus for me right now, I can't quite jump onto anything feeling this out of sync.

You might call it a blur:


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