Monday, April 12, 2010
No Easy Setups
I was expecting the gap up from Sunday night to hold and wanted to sell it this morning around 1197 but of course this market refuses to cooperate. The easy setups last for minutes and the bad setups last for endless hours. Welcome to the 2010 market. I wanted to short so badly this morning but I don't want to short in the hole (speaking of AHs) during such a strong uptrend. I may sell short anyway, but for smaller size than I wanted to. We are near trend exhaustion.
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2 comments:
Market feels heavy. Gap up was closed quickly, exhaustion? I think today we go down, or possibly after Alcoa earnings later today.
I agree, this market looks like its out of gas. I don't think we'll collapse, but do see a small selloff probably tomorrow or Wednesday.
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