Trading stocks is not easy. If it were, then everyone would be doing it. Since I am not able to monitor the market fulltime, my trading style is in a state of flux depending upon the current market conditions. For the past few months, my positions are very short term...3 days max...with very tight stops. I try to make entries/exits at certain moving averages and trendlines. My cardinal rule I try to follow (most of the time) is: Trading what you WANT the market to do, instead of what it IS doing is always dangerous. This blog is here to stimulate thought. Enter positions at your own risk.
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BIDU gapped up, closed above 50sma, closed above long term trendline, closed above short term term trendline and bounced back down from 38% fib retracement. This action could be a reversal of the short term downtrend starting on 7/30/08 (46 pts). If the...
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