The Daily Dose of Trading Comments

Here you'll find short quips concerning the market mood and direction posted intra-day as the market dictates and time allows. You can find TATs strategy here. Comments here are from a trader who trades for a living.

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Wednesday, July 27, 2005

It's hard to argue with success and this market keeps flouting its success. New closing highs on the NDX and SPX with that 2 week trend line break on the NDX being a faint memory now. There are a number of earning reports before the bell tomorrow that could provide the extra juice to go up and tag those targets we laid out three weeks ago ... we are that close now. I made some money early on the shorting but had to give it back when we busted higher. I took and ugly stop on the NDX as my limit stop was jumped and I didn't get that order off nearly soon enough.

I'm looking to buy some DJIA futures after hours this evening as we appear ready to break a leg on this market's seemingly inevitable march higher. It's only for a trade mind you, but I grimace putting the order in. It's become a grudge match at this point with every step higher. I know that it doesn't matter until it matters but I sure wish that it would start mattering soon as I'm tired of the nonsensical move higher.

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