Waiting..... to buy on dip!
I exited my two swing trade positions on Friday with a profit. I will stay at the sideline early next week to observe if the market will retrace to the two support levels shown in the chart. The index has moved too fast & too far away from the 10 & 20 moving averages. At some points, it will come back to hug the averages again. I await the opportunity to buy on dip when that happen. I have a buffet of counters in my watchlist waiting for trigger.
PS: The odds: Since volume was extremely heavy the past two days, market may not succumb so easily. It may push a bit higher before coming down creating a dark cloud cover.
PS: The odds: Since volume was extremely heavy the past two days, market may not succumb so easily. It may push a bit higher before coming down creating a dark cloud cover.
Labels: Market Direction
posted by Market Wizards @ April 04, 2009
Comments: 0
