The Daily Dose of Trading Comments

Despite the favorable seasonal winds, the bulls just couldn't get it going today. Despite this, the damage was held to a minimum and the intermediate term outlook remains the same ... as long as they don't give up too much more ground. With but a handful of days left to year end, you would expect a push somewhere in here and that's what I'm still working for. I keep adding here, selling there as I prune the stretched as well as the weak. In most cases, I'm using a scale approach to entry and taking profits will trailing stops or outright sells when targets are reached. I'm not interested in long term trades in most cases, but continued small profits to ratchet up the returns into year end.

Today we had more light volume, mixed internals and more confusion. It appears that, with a couple hours to go, the market was going to claw out a winning session over all the major indexes, but that thought faded late afternoon. So, we wait for tomorrow and the last three days before Christmas to see how this Santa shakes out. There were some positives and some negatives and with the bonus boys keen on getting the largest bonus they can, we have an artifical floor still that offers protection against an ugly downdraft for a few more days.

Oh, and checkout the latest addition to our site. A long time ago I used to offer TA lessons as part of the Naked Trades series. With my desire to somehow finish my the TA part of my book, I'm looking to add some TA examples on a daily basis that I can use to that end. Enjoy, tell a friend. Your help in growing this site is all I ask in return.