MightyMo's Blog : Sustainable?

The market had a decent strong finish on Wednesday but still ended in the red.
WIll the strong finish upturn continue into Thursday? With the DOW over 10400, we still see DOW 10800 with possibly touching 11000 before the end of the year.
However, not withstanding today's action, the market has had a pretty good run, can it continue it march upward? Remember the saying 'the trend is your friend, stay the course until it tells you otherwise". It is very important that a trader be aware of the current force in the market, whether it be bullish or bearish.When this force is at it's height, it doesn't make sense to try to buck it. The market doesn't care what you think. It doesn't care it you call it a bull market or a bear market rally,

.....On the other hand, it is extremely important to learn to recognize when a trend is about to run it's course or is near a period of exhaustion. One must have the ability to stay on top of the market and able to change directions quickly. Sensing when the trend changes is an invaluable skill. Some wags might call this 'panic action' while others call it market savvy. For the first time in many months, I have sprinkled my PP picks not only with 'longs' but also with 'shorts'.

By the way, I am in the process of setting up my own blog site on the web. We will be adding items to it as we progress. The link if you're interested is:

http://mightymo-market.blogspot.com/2009/11/short-term-trading-pulling-trigger.html