Monday, February 1, 2010

The Daily Note - Remember This? Remember This!

"What?", you ask?
"Yeah, you know, "What Goes Up Must Come Down" remember?"

Some of us forget, some of us dismiss. All of us see in hindsight.

Last week was too late, the change took place. I wrote about it in "Looking Forward 2010" and even earlier, I showed it on this weekly chart, then again checked and adjusted on Jan 13th in "Ready for a Turn?" which although small, was a foreteller of things to come over a week later.

As traders, we cannot afford the hindsight. What takes us to the next level is to remember what can happen and get out when the change occurs. Although it cannot be exact either, as you can see judging by the charts,knowing what can come and taking note of the markers is a tool for the advantage.

"So what is next?", you ask?

Knowing what is next is impossible; knowing the possibilities is not.
Therefore, look for the possibilities and make them your markers. Then the next impossible task you will need to do, is to remember to heed them.

Happy Trading, Living and Dancing

The Play List:

DJIA Looking forward for February, 2010

Posted 12:15 AM Eastern