If you want to be bullish here, you got exactly what was wanted at the end of the day. The boys with the programs kicked in and drove the market up to make it look better than it was. Sometimes a mask will work for a while and right now they are masking some ugly internals in a pretty costume. It's all part of trying to get the market to work it's way higher in order to set up that end of year rally that is so coveted on the Street.
Look, I try not be cynical and look to simply take what they give. Lately we have been reasonably successful in doing so and ideally we will keep that going in the coming days and month. All year we have worked hard to stay even and to start getting ahead. Finally that is starting to happen. Hopefully the commentary provided here is allowing you to do the same.
Right now we are leaning long and wanting to slowly get longer when opportunity allows. This sort of back filling session like today allows that. The real problems lie ahead of us as we creep higher, not the back filling type action we are seeing today. Yes, we could sink into oblivion and that would get our attention if the general market started to do so but it's a little too early to believe that to be the higher priority scenario. Even if it were to happen, since most of our money is being deployed in stocks that have signaled earnings or have already released them and are sporting nice charts, we should have time to get out of the way as those stocks should hold up a little longer than the general market if and when the turn comes.
Everyone has a different style when it comes to the market. Some are faders, some momentum riders, some non-technical, some this, some that. If they are successful, then they have found a method that works for them. I tend to trade mostly as a fader but I will change my style for a while depending on what the market is offering. I bought my first momentum trades in light years just recently and they are working OK for now. That's a function of the general market supporting a continuation move. That's my style. You have to develop yours and you have to read my commentary in light of my style.
Enough for today. See you tomorrow. If our read on this market is right, we should see the market close near or slightly above the 1200 SPX area before the week is out.
Look, I try not be cynical and look to simply take what they give. Lately we have been reasonably successful in doing so and ideally we will keep that going in the coming days and month. All year we have worked hard to stay even and to start getting ahead. Finally that is starting to happen. Hopefully the commentary provided here is allowing you to do the same.
Right now we are leaning long and wanting to slowly get longer when opportunity allows. This sort of back filling session like today allows that. The real problems lie ahead of us as we creep higher, not the back filling type action we are seeing today. Yes, we could sink into oblivion and that would get our attention if the general market started to do so but it's a little too early to believe that to be the higher priority scenario. Even if it were to happen, since most of our money is being deployed in stocks that have signaled earnings or have already released them and are sporting nice charts, we should have time to get out of the way as those stocks should hold up a little longer than the general market if and when the turn comes.
Everyone has a different style when it comes to the market. Some are faders, some momentum riders, some non-technical, some this, some that. If they are successful, then they have found a method that works for them. I tend to trade mostly as a fader but I will change my style for a while depending on what the market is offering. I bought my first momentum trades in light years just recently and they are working OK for now. That's a function of the general market supporting a continuation move. That's my style. You have to develop yours and you have to read my commentary in light of my style.
Enough for today. See you tomorrow. If our read on this market is right, we should see the market close near or slightly above the 1200 SPX area before the week is out.
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