Tuesday, August 30, 2011
Getting out of the Woods
Good afternoon ladies and gentlemen, we finally made it out of the bubble we had posted on here. We have been picking up profits everyday. Currently we are in a tricky spot as you see we have some consolidation on the top of the previous bar. Currently this can still go any way.
Today we saw that the bulls are really pushing the limits even on light volume. Media continues to support the buying of Gold and we are seeing Gold rebound. This week we got a couple of fundamentals coming out that can drive the market either way. I suggest you continue to be quick and lock in your profits based on your tolerance.
We are looking somewhat good. However we are still not out of the woods. Our out of the woods target is around 1300s on the SP500.
Keep cool and Trade Smart!
Note: further stock setups will be called out on the blog with weekly ideas. Get them while they are free!