Ok, so here I sit at a camp ground, in a tent, looking at stocks, and writing a blog. What is wrong with me? Better yet, I do not even get paid for this. It is in the blood.
The more the Stock Market continues to churn sideways after a major pullback and the more times resistance is tested, the more likely that this thing is going to break soon. My gut is telling me it is going to break to the upside, but with a visual confirmation, it is still a no go for me. The 50 day is flattening out on all indexes and my CBL lines are beginning to look as if they are going to break. There is always a very good chance that this will all fall apart Friday sometime between 2-4pm if traders become edgy holding stock position over the weekend pending the Greece vote. All I know is that no matter what, it is easier sitting on the sidle lines making decisions, than it is making them when I’m losing money.
I will do nothing till at least Monday no matter what and even then, the charts and not the news will dictate my moves. Now back to camping.
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