Friday, October 16, 2009
Sell the close
All the traders on Fast Money Halftime Report had buy calls for the close, as with my tendency to fade the Fast Money traders, I would sell expecting lower prices at the close. But I don't think the top will be a point, I expect strength in the market again, the dip buyers will not go away easily.
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3 comments:
I am not long or short here. Waiting for a fat pitch to swing at. I won't buy right now, this market is building a top, it's always hard to time the top because it usually takes time, unlike a bottom. I think we'll probably chop around between 1075 and 1100 on the S&P. And then make a strong move down from there.
Yeah, I agree, we'll probably revisit the closing prices of yesterday sometime next week.
You should work on the format of your blog. The layout needs some work.
I think a lot of blogs generate traffic not because of the content but the way it looks.
Like capital observer. Although his content is good from an informational standpoint, it's also easy on the eyes.
Let me know if you make any money through this blog.
Like the links and stuff that people put on their, for example books that link to amazon. I think you make a few cents from every book that was bought via clicking in from your site to the seller.
My stocks are not doing that hot.
I had a little hot streak for a week, was banking like 25% on each trade. Now it's in the single digits the last few days. Mkt is getting tired dawg.
I have no plans on making money from this blog. I'm just writing my thoughts about the market, and if I get enough of a following, I can get some opinions on the market and my thoughts through the comments.
The market closed weak, too many people were looking for that strong close and everyone tried to get through the exit at the same time. It is definitely time to sell strength, this market is forming a top and choppy action like today is an indication. I will be a seller on rallies next week.
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