Tuesday, March 1, 2011

Bears strike back, afternoon update

Bears pushed the market just in time to avoid EMas crossing. Price moved 9 points bellow SMA 120  and daily DMI is slightly negative.

The unrest in the Arab World is making everybody nervous, I do expect more rallies and plunges in the next few days. With this kind of volatility you need to be very quick in order to make money. Saying this I am going to take a little bit of profit on the short side today, just in case. I am really frustrated that is so hard to make money on the short side lately so I don't want to take the chance to see my little profit disappear again.

Take care!

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