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Trading is oscillating back and forth within a range. there is no conviction at all to the market direction. Again, this is why I'm not taking any new trades just yet. And you should not be trying to enter new swing trades here either. With the trading moving back and forth within a range the chances are good you can get stopped out of your trade.
Remember that as swing traders we want as many forces working in our favor for us to succeed. This volatility is not one of those forces we want.
Today the market has gone up fairly well at one point to again have it all erased. There is no need to fight this action.
Tuesday, June 26, 2007
We are stuck in this range still
Posted by Fp80 at 6/26/2007 01:59:00 PM
Labels: Market Summary, Volatility
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2 Comments:
Great updates! Good balance here. Keeping me from pushing buttons! Dankir
Your Welcome.. We don't need to be jumping in and trading just for the sake of it. That would lead one to lose money very quickly.
Because we want as many things going in our favor as possible we wait to make the right move at the right time.
Welcome to the site.. Feel free to comment and email me anytime.
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