Day Trading – The Bullz And Bearz
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Are We Forming A Mini Gold Bubble?
February 14th, 2009
I’ll get to gold later in the trading video, but I think it’s pretty over-bought here in the short term. All the charts I am looking at for gold and silver are screaming short! Still, as we all know in bubbles – and in general for any security – they always can go much higher than we ever expect. As for the boring trading range we continue to be in with the S&P, I am still convinced we need to make a break above 875 or sell off below 800 before I start buying index calls or puts. Granted, the hammer formation that we formed on Thursday was pretty important for the bullz, but we still have a lot of over-head resistance to get through in the next move up. On the video today I also went over a great representation of an open gaping or open window trade. I’m hoping to do another post tomorrow night if any news ideas sneak into my mind. See you all soon!
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