Friday, January 18, 2013

The Situation

The market is undecided at the moment. Yesterday was a great day percentage wise, but not so great behind the scenes. As you can see the MTT barely budged. This usually means it's setting everyone up for a reversal. Traders see the nice move up and think things are all rosy. They get their money in only to see a reversal or whipsaw action take place. That's what this smells like to me.

In the end, we'll follow the MTT. It says long, which was obvious early yesterday, so we went long. I will not be surprised if we get shaken out today.

Don't get frustrated by this. The big moves are right around the corner and the moment you get upset is the time it will make it's move and leave you behind.

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