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"The market is a treacherous and fascinating game. I am a player and this is the quiet place i go to pen my thoughts and emotions."

Friday, June 02, 2006

Journal: Start of a Rebound?

JournalToday was a good day. The US market's impressive gains spilled over to the local scene. I usually start the day with a visit to this CNN money page to get a feel of what the local market's direction will be for the day. I think the next few days will be good days to hold some long positions.

However, the trend since April is still down. My mantra while this is still the case is "sell into strength". The signals to sell can be derived from MAs or bearish candlesticks, while the buy signal can be derived from lower bollinger band or bullish candlesticks. On an uptrend, sell signals can be derived from the upper bollinger band or bearish candlesticks and buy signals from MAs or bullish candlesticks.

I expect this month to be quiet as it is the holiday and world cup season. Mostly the punters will come out to play while the rest of us are away.

=)


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