Business Magazine

Mid-Day Update

Posted on the 09 November 2011 by Phil's Stock World @philstockworld
Yesterday We Said:  Just when you think they were going to continue to kill em?They run em.  Of course the flip side of that is true too- Just when you think they are going to run them? They kill em. Today we say: Wash Rinse Repeat All of which makes for a volatile situation on the surface but also starts to have the look and feel of a trading range being developed in the indexes. We’ll find out soon enough. Remember those ABC’s from yesterday? Mid-Day Update  The COMPQ chart is a bit different than the SPX chart below as the wave 3 (wave 2′s lows to yesterday’s highs) up is comprised of 3 waves up vs in the SPX chart it  has 5 waves (wave 2′s lows to yesterday’s highs)  Mid-Day Update Does any of it matter? Not really except that true to form with Ewave after  the 3/5 micro ups to yesterday’s highs we got a reaction to the downside just like we were supposed to . Noticing the wave action that was developing up thru yesterday’s highs is what caused us to sit back the last few days with what we have vs jumping to the longside and now you know why.   Keeps you from REACTING by jumping in on the longside.  Mid-Day Update  Mid-Day Update  11-9 So what are we going to do about all this? Nothing really but what we’ve been doing. Why? It works that’s why. Today is also an EXCELLENT EXAMPLE OF " LET YOU’RE STOCKS TELL YOU WHAT TO DO BY THE ACTION THEY EXHIBIT".  Case in point go look at the longside watch list! Even with the markets down big today look at the charts of those names. They are all pretty much intact here. Keep in mind this MAY be telling us something.  All in all I really have nothing bad to say about today’s action when I look at the charts (objectively and free of emotions) of our current holdings and our longside watch list and neither should you, unless you are a highly emotional type that is. Current Game Plan So here is the bottom line through year end. We buy weakness and we’ll use the 50-day average to define our risk

You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Big Food Giants Manipulate Public Health Policy in China

    Food Giants Manipulate Public Health Policy China

    Coca-Cola is at it again. As soda sales decline in the United States and Europe, beverage companies look to emerging economies like China for growth. And, it... Read more

    The 15 January 2019 by   Dietdoctor
  • Jewellery for a Precious You

    Jewellery Precious

    Jewellery is always close to a woman’s heart. It completes her look and boost confidence. Considering the changing trends in jewellery fashion, it becomes... Read more

    The 15 January 2019 by   Dr.jenifer Sayyed
  • Rajshri Productions’ Next Is A Film On Friendship | Hum Chaar | Trailer

    Abhishek Dixit’s debut feature film Hum Chaar is a Bollywood film made under the banner of Rajshri’s film. Hum Chaar is written and directed by Abhishek Dixit. Read more

    The 15 January 2019 by   Themoviean
  • Saint Paul the First Hermit

    Saint Paul First Hermit

    Today is the feast day of Saint Paul the hermit. This is a sweet and delicate Oatmeal Bread topped with rolled oats and naturally sweetened with agave. Saint... Read more

    The 15 January 2019 by   Veronica46
  • Irupathiyonnaam Noottaandu | Teaser | Pranav Mohanlal | Arun Gopy

    Arun Gopy’s Irupathiyonnaam Noottaandu is an upcoming Malayalam action-drama feature film starring Pranav Mohanlal and Zaya David in the lead roles. Read more

    The 15 January 2019 by   Themoviean
  • A Year Of Body Positivity

    Year Body Positivity

    Last January, as I sat there on New Years eve all set to make the same old resolutions I've made year after year for as long as I can remember, I realised how... Read more

    The 15 January 2019 by   Sparklesandstretchmarks
  • Garden Bloggers Bloom Day – Jan 2019

    Garden Bloggers Bloom 2019

    Euphorbia rigidaWhen I went out to take the photos for this blog post I was surprised at how much was in flower dotted around the garden. Read more

    The 15 January 2019 by   Patientgardener