Friday, January 25, 2008
Friday, January 25th, Market Update
We had a nice fade of the gap up this morning from about +100 on the dow, went as low as -60, 160 point swing. We're currently back in the mid range. My expectations are that the market closes higher again today. A lot of traders are probably rushing the short selling a bit here, and they will continue to buoy the market. I think the market obviously needs to retrace a bit of the 800 point rally low to high we've seen, but don't think today will be the day quite yet. Patience is key. Still a trader's market though. Placed a couple trades this morning for some quick profits, all cash again. I'll be back in the last hour.
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1 comment:
I appreciate your market perspective and trading info. I'm curious as to what tools do you use to measure the market for intraday trading.
I use technical analysis and in particular the OBV, RSI, MACD, DMI, stochastics and ADX along with measuring volume and following the major indexes.
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