I will begin blogging in earnest relating to the technical trading aspect of the market. I have been busy with disseminating as much information and opinion that I deem important but I have been lax about discussing my trades, rationale, and charts. I will ease back into that role.
The market remains volatile and if you are a trader that is VERY SHORT TERM, this market has much to offer both positively and negatively. Volatility has been extreme with VIX refusing to go below 40's. Intraday swings of 150+ points on the Dow is expected. Remember, these types of volatility does not happen at market bottoms or at the initiation of bull markets. The sheer fact that we have this much volatility suggest that this market continues to implode and more damage is on its way.
There is no more need to listen to or even trust our government officials at this point and it would be devastating to even believe that they know what they are doing. Our Democratic CONgress, HOUSE (of cards), and the presidents (Bush and Obama) are taking us down the path of financial destruction and certain Depression.
This market is oversold and broken. It is a emotional market with no real technical or fundamental basis for market moves. It is a market that is "basing" for the next leg down. You must, if you partake in this treacherous market, keep your time frame ultra-short and be quick with your trades. "You are either quick or you're dead". That old western era gun slinging mantra holds today and only the most intrepid (myself included) gunslingers need to occupy themselves in this market.
I will have a full analysis of the market on the next edition.
Disclosure: I am long AAPL, GOOG, FSLR, GS puts, and hold long SDS positions.
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