Sunday, January 31, 2010

The plan is to wait...

The market is in "Sell" mode. So what should I do? One side of my brain says "wow, the stocks are cheap, maybe we buy some, because we are almost all in cash right now", the other side of my brain says "The market is in sell mode, don't go long".

"Don't think about what the market's going to do; you have absolutely no control over that. Think about what you're going to do if it gets there."-William Eckhardt

So, my plan is to wait. I am waiting for:
-High volume up day, then probably go long with stop just below the low of that day
-High volume "doji" day or slight down with huge volume day, then I will try start to buy some

Good lucks in your trading !
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