this morning trading profits continued to build with another +1% gain early along with trend technicals that have improved to a point of signaling a longer term move higher. however,..
we are just arriving at that line and just as we've seen before this is an area of doubt by both bullish and bearish players.
i will try and capitalize on this area using some vst,.. and that means somewhat weak or short lived technical signals to support my new position as a short term counter trend trade.
it was almost a decision to sit out a day in the markets, but i did exit my long position,.. and flipped short.
i will admit ahead of time this may be a day early and we still have at least a 50/50 chance of moving higher from here (10:45am chart time) into the close.
my decision to short was supported however by some early divergences as we approch resistance lines,...and let us not forget some very good prices on some bearish shares, again more than i've been able to purchase all year.
again trade safe,
Edited by Mr Dev, 02 September 2010 - 10:14 AM.