The Daily Dose of Trading Comments

Well, the weekly charts likely turn down today with numbers appearing as they are. I've some business outside of trading that I need to turn to and am out of here. I've done nothing since mid morning and have raised significant cash levels looking to start fresh next week.

Earlier this week I talked of 3 big moves so far this year and that I wanted to catch the next one. Well, we just saw the first leg of that next one transpire and catching the remainder of it now becomes the objective. I believe that we will have the opportunity still since next week is the last week of the quarter and there will be some desire to at least hold things steady into end of quarter. There's also a lot of bulls who got left out on the advance that may look at the charts over the weekend and see better entry points now. We'll have to wait to see how many of them there are though. It's always interesting that everyone wants to buy on a pullback until the pullback occurs; yours truly included. When they snap it down hard though on increased volume, it kind of takes ones appetite away.

Have a great weekend and hope that, if nothing else, you avoided the spill.