Posted 24 March 2007 - 12:36 AM
The news doesn't mean Jack. The WSJ, CNBC, COT report, Housing numbers, employment numbers all stuff to feed the sheep.
People over think the market.
Higher highs, higher lows or vice versa
--or--
Pick a MA, any MA. The 10, 20, 50 or the 5 doesn't matter.......bullish above, bearish below. Don't be a pig, if you have a profit take it and wait. Because the market will always come back to the MAs. Always.
Simple and easy, the only thing that really matters is price. All the other bells and whistles muddies the water.
If you think the FED or the PPT is stopping the market from falling off the cliff......if you really honestly think thats the case.....why in the hell aren't you (not you, but traders who think that in general) long?
Just my random .02 for the evening.