The three major indices broke its Oct/Nov Low again. However, the market is grossly oversold at the moment. It needs to rest (and have a small rally) before continuing it downtrend journey. So be prepared to take profits if you are shorting the market.
Next week will be a short trading week due to the Thanksgiving holidays.
The next pit stop (support level):
Dow Jones Index = 6975 (1997 Low, also around 61.8% Fibonacci level)
S&P 500 = 606 (1996 Low, also around 78.6% Fibonacci level)
Nasdaq Composite Index = 1108 (2003 Low)
PersianCat (Millionaire-in-progress)
Trade Like A Persian Cat reminds me that I should be like a Persian Cat, waiting for the right setup to trade and not act on impulse. This blog documents my trades, thoughts and reflections in playing Options in the US Market. "Bulls make money, Bears make money, Pigs Get Slaughtered, Cash is King"
Who Am I ?
Interesting Read
- Are You An Academician Or Practitioner?
- Are You Winning The Battle?
- Comic Strips
- Guidelines For Intraday Play
- How The Markets Really Work
- Jewish Holidays 2012
- Optionquest Online Game
- Play One contract only !!!
- The Average Investor Mentality
- The Market Cycle
- US Market Holidays 2012
- Who Are You Trading Against?
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