Thursday, June 28, 2012

A Grind

The emotion has been mostly sucked out of this market.  The volatility is quite muted considering that the general view is sort of bearish.  I agree that the market will eventually head lower but we will likely have further countrend action in the coming days.  I am still leaning bullish, but less so than Monday.  I am short term bullish, intermediate term bearish.  Which is kind of tricky to play, so I am waiting for the right setups. 

I am hoping for the market to get back up to 1350-1360 zone to put on shorts.  Perhaps we can do that next week.  Otherwise, I am looking to buy dips for short term quick trades for the next few days only.  I will not go long after the first week of July.  I think this market is set up to go back down again eventually.

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