Today is January 3rd 2012 and the first trading day of the year. I would like to start by saying that I hope everyone had a good Christmas and New Year. We can make this the best year of your lives if we so choose, in spit of what ever is going on in the world. Get focused, committed and follow your dreams.
On to the markets. The last market call I make before Christmas has continued to express itself as I said and thought it would, upppppp.
I mentioned in my last 3 posts in mid December, when after calling a daily turning point at S&P 1198 that we would then see the “Rally to continue for some time”, “the pressure was going to be on the upside in the day’s to come” and that “we would see a substantial upward pressure in the market and remain open minded as a market crash was not like right here”. It was nice to see that follow through and play out as I thought.
Today was my first day back after taking a good break and had a flat day. I took 3 trades but started very late in the day which I prefer not to do. You don’t leave yourself a lot of time if your only trading is late in the day and that was the case for me.
It could have turned out differently, but it is what it is. I feel, I was the problem for not hitting my goal today. I did need to exercise more patients and should not have not put that last long on. It was not a good spot on the chart and I did not really have the advantage. The last move short was what I mapped out while looking at the first short, but gave up on it, its all really fine as I get a fresh start tomorrow.
I did post a U-Tube Video of the whole day and can be seen by going to the video gallery on the front page of my website or you can look it up on U-Tube under “vinniemarlin”. I sport fish for Marlin in Cabo San Lucas, thus vinniemarlin. OK; that’s it for today, I wish you all well. Vince
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