Tuesday, May 4, 2010

Market Analysis


My remaining Long position (ATR) was stopped out last night for a small loss. I'm OK with that, as I think the market conditions are no longer favoring Long trades.

The NASDAQ has now broken the consolidation pattern, and looks set to be heading south. I will now sit on my hands and see what it wants to do. I may want to pick up some Short positions, but let's just wait and see.

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