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Time to Panic?

15 July 2006 732 views 3 Comments

Today, and the past few days have been hectic for the market. The price of oil keeps rising and I need to sell my gas-guzzling van. So do we panic yet and where is the market going? Over at HipEgg we did a review of the Dow.

I don’t know if a TA is the right tool for the over all market, I don’t know that it isn’t. If TA is correct then we are testing support and could be looking at a correction soon but that is not the point. The point is, there is profit to be made in panic. As the aged Templar said to Indiana “You must choose, but choose wisely.”

Happy trading.

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3 Comments »

  • bulltrader said:

    im a TA pro, and according to the charts, we have already broken down at the support.

    check out this daily and weekly TA of the QQQQ to see what i mean.

    http://www.thebulltrader.com/2006/07/14/qqqq-etf-trading/

    # 15 July 2006 at 5:20 pm
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