After so many posts of a weak market with no desire to buy, it is a little strange to be talking up the market. It really isn't hard as the chart really tells the story. All major indexes up with increasing volume. We can attribute it to CPI, PPI, cease fires, lower crude, etc... but it really doesn't matter why. What matters, is what we do next in the current market to profit.
While most stocks, futures, and call options may be rising, wait for a setup before jumping in. We are probably a bit overbought here and will need a few sessions for profit takers to grab some of their new found gains, and new buyers to enter the market and take it higher. Polish up your watchlist and wait for the setup and execute.
May Switch To The Party Of The Bulls & Finally Go "Loong"
Wednesday, 16. August 2006
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