Here comes Santa Claus! Here comes Santa Claus! Right down Santa Claus Lane! Vixen and Blitzen and all his reindeer are pulling on the reins. Bells are ringing, children singing; All is merry and bright. Hang your stockings and say your prayers, 'Cause Santa Claus comes .... a little late!
Higher lows, higher lows, followed by breaches to higher highs means bull trend. Kind of stepping aside and waiting for my systems to pull the trigger on a short. A pull back is likely, but not to below the last lower high. That's become its support (referring to NQ@2296.50)
I would do that options stuff but since I had to google what it means, I will be better off to just sit it out. That just makes me feel so unsophisticated and inferior. Market looks really slow here but I figure we get a couple of pre market futures pops to shake things up over the next few days, I usually try to avoid that stuff too. If it went up every day that would just make life much less stressful/.><
It definitely would be. But then all those pundits, gurus, and so-called "experts" would jump in and try to convince us about overbought conditions. The crash was imminent. Be very careful. Do not trust this market. It was all manipulated. The big boys were selling. Don't get suckered in. They appear on television, conduct thorough analyses, and blog about it at every opportunity. The average trader is influenced, gets fearful. He starts selling his positions, even tries a few shorts that don't work out. Irritated by his losses, he starts condemning the market and warns his aunt and uncle about an imminent crash. He posts on ET. It would be bad, terribly bad. Better get out entirely. "Oh really? But the market rises every day...". "No no, it's all fake". You can have rising markets every day, but people would still win and lose anyway. If there is one thing I have learned over the years, it is to blend out any influence. If you cannot do that, you have to learn to be ignorant. Yes, you will appear snobbish to the forecaster, but at least you stand a chance to actually win this game. Imagine you were playing the PS3. Do you get influenced by your competitors, too? "Go left now! And now press the X button while holding the R2. No, not like that! This way!" Don't you feel like throwing the controller at his face? Why don't you do the same to the guru? Same in Chess. You play according to your own decisions. Just play the game at your own pace, with your own method. But wait. There is money involved with trading. We just cannot act rationally if money is involved!