Thursday, October 21, 2010

After bell status

Today we had a pathetic day and, in spite of a green day internals now broken.

As you can see, both short and long period histo in negative territory (actually short histo lost 10%),  oscillator lost 14 % and momentum lost 0.1 in a day. Also buy volume signals 26% now, lost 14 points, sentiment is on critical 46. Internals are broken and not safe.
However, smarts might play a game tomorrow and push prices higher attracting others to make room loading some cheap puts and finally drop market down the day after.
I will be away, all the day tomorrow I am travelling but I declare now: I will not buy, market is not safe.

I know I might disappoint you, from now I wait for days or weeks for the safe entry.

Predators do the same. Sit, observe and try to catch the right moment.
Be a predator, not a victim.

Good luck!

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