There is a little known element about Greed & Fear: Greed is actually a variant of Fear — the fear of missing the move higher, fear of leaving profits on the table, fear of losing clients, fear of lower income, fear of losing your job. Hence, when most people say that Fear & Greed drives the market, they are really saying FEAR drives the market in both directions. True Greed doesn’t come into the picture until we get to the stupid phase — think DotComs bubble 1999 or Housing bubble 2005.
trading
Monday, 19 September 2011
The tone has changed.
I went long and my account was up, supporting my scenario, but I sold out at up 2.83% on the account and went into cash today at the end of the day. Just want to get a new perspective and be ready to go with the money flow rather then the story. Focus on the price action. We are still in a range. Big move is coming.
Bears will have their chance at the market tomorrow but the fact that the market continues to hold firm into the Fed must be recognized.
Sunday, 18 September 2011
Going into Fed week !
We have unconfirmed patterns, head and shoulders, bear flag and possibly a channel, be on guard and make preserving your capital job #1. Focus on price action, I think this is going to be a pivotal week for the market. Big move is coming.
Friday, 9 September 2011
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