Friday, December 10, 2010

I am not buying it

Dear my Readers,

Steffan makes excellent Volume based TAs on his blog on daily basis, and trades according nicely.
Please follow his blog for daily updates and summaries.

However, if we step behind and look into a larger picture about USD, PM, SPXA50, VIX and NYMO, then we can see that market internals are still weak and not improving with the same momentum as prices.

Therefore I am not buying anything, I have a core position and I dont care, I might miss a nice rally, but I am rather convinced about an upcoming correction.

Then, when everybody is scared, market will be ready for a fresh big rally. An I will be there.

So, in this blog I'll stay away from the market for a while and watch.
I might make some posts just for analyzing internals or discuss some questions popped up in the last months.

Again, for daily VTA updates please find Steffan's blog. He is really good. Can you see?
If he could, you'll also learn it quick.

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