I hope all you feel better after this weeks market moves. I guess the Christmas rally is on as we hope it would be, but the question is, can it run for another 6 trading days. I imagine that some of those days will be very light on volume or participation with players, so it is anyone's guess. I’m starting to hear the rumors at work of folks pulling out of the market because they fear a major pullback in the next month or two. I always have to ask people like this a few a simple questions. From now till when that magic date, when you’re out of the market, what about all the gains until the magic date arrives? If you get out, what do you use to get you back in, another rumor? If the markets go up 5% between now and then and crash 4% on the magic date, isn’t that still a 1% gain?
Ok, I think you get my point. I will use the only thing that I know, and that is my charts. So far they have served me well enough and I do not have to guess when to get out or when to get in. The monthly charts are the easiest to understand and use and the dailies are difficult, but they can be done if you spend the time to learn.
More later. have a great weekend.
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