Subscribe to Posts
Subscribe to Comments
The PPT

Odd Day...

Written by Zachary A. Musso On 1/05/2009 12:59:00 PM
Just by looking at the charts heavily for a couple of minutes and a little throughout the day, I've realized that it's been a bit of an awkward day.  Financials are mixed, Oil is up, Gold is down...  Last time this happened, the market didn't get the benefit of the doubt and stank it up.  My guess is that the market is preparing for a big swing to the downside, but traders are waiting for that catalyst that gives them a "reason" to be bearish.

Ridonkulous.

But in all honesty, Oil is about to bite the bullet unless the big guys break their 60 Day resistance levels and continue upward for a couple days.  Anything is possible, but in my opinion, we'll have to wait for 3 o'clock.

Holding SRS and FAZ, gaining on SRS and losing on FAZ (as predicted).  It's obvious that SRS wants to breakout, and FAZ isn't sure because the Financial sector is still drinking punch by itself in the corner of the party.  

My only advice?  BE CAREFUL & SET STOPS.

Otherwise, I'll make a tiny update tonight when I get home.  Nothing big because I'm sleep deprived.  Until then...

Keep Tradin'


ZM
| edit post

0 Response to 'Odd Day...'

Post a Comment

Subscribe to: Post Comments (Atom)

MJTT Disclaimer

I am not, by any means, a financial analyst. All posts and tickers mentioned in them are my opinions and my opinions only. If you buy and sell ANY tickers because of my recommendation, you are trading at your own risk.

Zachary A. Musso - MJTT Owner/Author

Trader Bio

My Photo
Zachary A. Musso
Fully Discretionary Technical Swing/Day Trader since November of 2008 - Full Time Student
View my complete profile

Loyal Readers

Vote for MJTT

Finance Top Blogs BlogRankers.com

Twitter Updates

MJTT on Facebook

MJTT Archives