Friday, April 17, 2009


Market is strong, but caution should be used here.

We did not get the pullback that I was expecting, but I still managed to make a profit on my bearish trade. Always keep an open mind in the market and place your stops. You can be wrong about the market and still make $ or lose little $ if you trade and position properly.

The bulls are strong, but they are also extended. They can probably stay extended for another 2-3 days. If market continues up, I would look to get bearish around Wednesday. The % of stocks above 50 DMA is above 85!