Aug
16
Charts and Coffee on August 16th, 2009
at 8:46 am
Central Time
I titled this post “don’t worry about being a sucker” because I think many intelligent traders carry a long term bearish bias on the direction of the market (and the economy) and therefore hate the idea of being caught long when the market finally does come back to reality. There is this common thought of [...]
When I look at the 5-year SPY chart, I think it can only be viewed as bullish. But, I’m still in this same mode that I have been in the last few weeks. RSI has been over 70 since about July 20th and this momentum is simply not sustainable. I cannot get long until there [...]
