Cash is king !

Stay positive, pal. Most people, when they lose, they whine, they quit. But you gotta be there for the turns. Everybody's got good luck, everybody's got bad luck. Don't run when you lose, don't whine when it hurts. It's like the 1st grade, nobody likes a crybaby.

-Gordon Gekko

Range again.

The market has lots of room to move around and even have a holiday rally ( dead cat bounce ) without even coming close to negating the technical breakdown and follow through we have seen recently. There is an increased expectation  that another move lower will occur once oversold conditions are removed. Last Thursday's breakdown out of the triangle confirmed that near term market direction is down and for long-only position trader in growth stocks, cash is king.

Note:  Lots of hedge fund managers are selling their positions and going flat/bonds.

Bears did a good job today.

Watching triangle.

Remember, it isn’t the break of the pattern initially that is most important but the subsequent follow through that comes after it.

Follow up on shipping.

Today we crossed handle's high pivot point 41.42 level and our entry just above it. The bottom of the handle is approximately 10%  from the buy point, and just below this area is a good place to put a protective stop.
GLNG's earnings were $0.01 a share in 2010, with forecasts of $0.92 in 2011. and $1.75 in 2012. With focus on 2012's numbers and the 90% estimated earnings growth we can expect shares' price advancing further.

The information contained herein is for educational purposes only and is not, and should not be construed as an offer to hold, sell or an offer to buy any securities.