Wednesday, May 26, 2010

The market has gone crazy!!

That is all I have to say today dear readers. If you had time to watch the markets today, like fortunately or unfortunately I did today, you have probably reached the same conclusion....its crazy out there!! If you are a swing trader, take a break and don't come back till Tuesday. This market lacks direction right now and if you are a disciplined swing trader, chances are you will keep getting stopped out of your positions. Though I have to admit, that if you hold no or perhaps small positions, this market makes for great watching! With things being as they are, there is no point putting up any charts or watchlists.

Bottom line - Cash is the best position, unless you are a daytrader. And if you are indeed a day trader, don't get greedy and be a scalper.

Take care and good luck!

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