- First and foremost...Congratulations to the New Orleans Saints for their tremendous upset victory. I think about 85% of the country thought they'd lose but wanted them to win...I was among that crowd.
- Soooo...Who Dat?!!
- Chart below...tough to call near term direction after that late Friday recovery. Could just as easily bounce a quick 2-3% as fall the same. Small bounce is probably more likely in my opinion.
- But, overall, I'm trying to look for opportunities in sync with the intermediate term which seems to be down. This was my failing during the upmove...didn't trust the pump job, resisted the intermediate trend (IT) and, in doing so, just made it way more work (ie, daily trading) than it needed to be. So, right now, I'll be watching for reasonable 2-7 day rallies to short.
- However...always a but...current scenario slightly resembles the JUL-AUG 07 drop which briefly turned the IT down and then price rallied (turning IT back up) for 2 months to a slightly higher high...the ultimate high...in OCT 07. Just trying to stay alert to all possibilities and why I follow with...
- One day at a time! Trying to stay in tune with the flow.
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