Tuesday, November 28, 2006

Where is my Bearish Pullback!??! Argh!

Well, I want to get something off my chest. It’s eating me inside – I LOVE BEARISH PULLBACKS!

Hear me out on this one. Ok, I’m the first to tell you that I love my fundamentally sound stocks – I like growth, and I like when they keep going up and up and up. If you have been in the markets for the last, FOUR MONTHS, you would see almost a steep 45-degree rise on the major US indices.

Now, I base all my trades on technical analysis – my entries, my stop losses, cycle dependencies – thus this last four months have brought havoc on all my timing schemes.

Where do we go from here?

Well, yesterday we saw a nice decline on the indices, only to watch today a small recovery – which is what is expected after such a day. Even though it seems like my housekeeper has suddenly decided to give me stock tips, the bulls can’t always win – you have to respect that.

Plus, the easiest, and fastest money comes in pullbacks. Takes months to build, but takes days to fall.

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