Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.   All we need to know for now can be found in the short term micro charts that cover everything from the December lows (December highs in the inverse ETF’s)                       A retest of the highs and struggling at that level from yesterday with failure and I’ll want to nibble on some shorts and inverse ETF’s       And as for the triangle that’s out there?  Well there MAY be a new development as in a triangle within a triangle out there.  Check out the NASDAQ Comp. chart below         Until it breaks? We have no clue as to which one is going to call the direction. The big blue one off the Oct lows (bullish because it starts at a low and moves higher)  or the one that’s building itself off the October highs which starts at a high and moves lower (bearish).  Market calls the ball but I will say I am seeing a lot more bearish channels forming in individual stocks so i have to lean towards the bear side because I trade what I see.     Short Sell Set Up Pattern Of the Day (What To Watch For)        In Summary:   Use strength to lighten long exposure and use this time to brush up on shorting skills and formulate YOUR game plan as to how are you going to accomplish your goals in 2012 REGARDLESS of what the market throws at you. After all life is NOT a spectator sport you know.   We’ve already started to do that for you with what to watch fors and what to watch out fors and will continue to expand upon all that as we move forward in time.    12-28 Any strength from here and we start selectively nibbling on the short side and on those Inverse ETF’s …