COMMON GOUND BARRY AND BLOGGER?
Readers of this blog are clearly aware of the issues Blogger has had recently that have hampered my abilities to make the product as good as I would like.
First, the old editor which is awful being the only usable one at the moment, and second the change of the design template which does not allow you to go back to the old one.
In the face of all that they send out a massive email to everyone telling us how great everything is with them and all the new features they have introduced. Huh?
This makes me wonder if Barry's thugs are not running this also and just lying about yet another problematic situation?
One political thought before getting to it, anyone pondering why Blago would all of the sudden go quiet out of the blue? He chose prison over death is my opinion, no way Barry wanted to be on that stand. With all the bad things they have done is there any reason at all to believe he might be innocent of what Blago had accused he and dead fish of?
Yesterday I mentioned my orders had been triggerred on the long side of the stock indexes, below is a chart of the NAZ which is the one I played.
You can see that once again this is not a perfect trade, they never are. The trend oscillators are going up, yet the longer term momentum measure at the bottom is entering the flat line sell zone. We do have one of the 2 accumulation/distribution indicators racing ahead of price, which should mean some more short term momentum upward. The bottom graph may be telling is that this is not going far, time will tell.
One of the challenges of Caddyshack trading is that you have to some how find a base to make decisions from. If you always require everything to be "perfect" you will never make a trade. You have to establish general parameters for what you are looking for. This fits the bill for that plan. Often at the first test the long term momentum will not be confirming a trend change, so I have to take a leap of faith to a degree on these trades. After all trading is nothing more than a series of stabs at things. We have to hope that more work than do not, and that we manage our money properly. Beyond that, there is no way to attain perfection that I know of.
Wasn't it curious how yesterday when bad economic news came out we had that big rally. It was also interesting that it happened when Bernanke went on record saying they would do whatever it takes! He should have just said including buying futures when we need to in order to keep the stock market up. I would release the balloons if he finally fessed up, but he basically did in that statement. He is probably laying the ground work for what is cleary going to come out at some point. There are just too many people that know about it and write about it now for it to stay quiet for much longer.
I am traveling today and over the weekend, so there will not be a Saturday post. Larry Williams is doing another seminar that I am attending. He was not going to do any more until he recently changed his mind. It is a can't miss for me especially since he limited it to a one time shot with a select group of students.
It appears to me we are still on track for a sell this rally against weekly resistance above here in the next few days but I will have to observe how we trade before determining that.