charts/tape reading

The market doesn't care what I or anyone else says.
The market is the final authority of profits or losses.
That's why it's smart to listen closely to what the market has to say.

One way to look at is ignore noise (news) and focus on charts as the resistance/support/hammer/volume is how the market is saying what it wants to say.

Wednesday, February 1, 2012

waiting for that buying opportunity...

I don't see any reason to jump into the market. So going to stick to staying mostly in cash. Staying in VMLTX - the limited term Tax Exempt Mutual Fund - is equivalent to staying in cash for me...
  • No blood (oversold conditions) in the market.
  • Way overbought when you look at any chart.
  • Of course, we may be in overbought territory for a while and miss some opportunities, but that's ok..
  • Europe crisis(PIIGS) not resolved yet!
Posted by at 9:16 AM

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