An Adage That Makes ‘Cents’
There’s an old saying on Wall
Street about never shorting a dull market….
11:38:58
Intraday Pullback Alert
The Diamonds (DIA)
have pulled back from intraday lows to test price resistance in the form of the
approximate breaking point at 10:00 AM. With the DIA down .38 at 103.62, the
index proxy is breaking the intraday uptrend line from lows on the 5-minute
chart.
Maybe they had this trade in mind when they came up with that particular
adage. But, seeing how ‘the longs’ aint’ exactly passing the grade either, maybe
the saying should say never trade in a dull market, that way everyone can stay
out of trouble.