A Bit On The Pale Beige Side
As is often the case
after a significant market move, the market has been in a “choppy
pause” mode much of this morning with investors likely looking somewhat
flushed, or should we say a bit on the pale beige side (sorry, that was too
tempting). Anyway, some nice two-way oscillations have presented
themselves while the market ponders its next move, and I’ve been favoring the
short side thus far until we have at least the hint of a sustainable
three-minute uptrend. Continue to watch both the three- and 13-minute
trends, which aren’t yet clear — yet may become so — as the day goes on, as was the
case yesterday.
ThursdayÂ
August 9, 2001Â 11:45 AM EDT
Yesterday’s post-beige
book market tank reminded me as much about staying out of trouble in severe
market conditions as making profits. Hopefully, my constant droning about
watching the immediate trends as defined by those oh-so-mundane five- and
15-minute MAs helps to lock up that knife drawer. Again, charts can do a
better job explaining it than I ever could.
August 8, 2001
As has been said by
many, this business is often about staying in business.
Good trading.
P.S.
I’m pleased to announce that I’ll
be hosting a two-day
QQQ trading learning forum immediately following TM2001 at the Venetian
Hotel and Resort on October 7- 8, 2001. It seems like we’ve struck a pleasant
nerve with the Q column, and I look forward to sharing my thoughts and views in
a live forum highly conducive to learning and interaction, as well as simply
meeting many of you in person. So whether you trade the Qs or watermelon
seeds, consider extending your stay just a bit and we’ll combine some very
intensive trading discussions and some fun!
For
a more in-depth look at how Don trades the QQQs, click here.