Monday, May 7, 2012

Confusion Creates Opportunities

Market is continuing to be in confused state this morning. Players are coming and going, it's a noisy affair mostly centered around the results of European elections.

I say do not confuse a two-way local traffic with a one-way highway heading south. We have so many levels on the downside to test and so many open gaps to close after Friday's breach of supports on all risk charts.
Confusion brings opportunities to those who are not short yet, and also makes for good long entries on short-term charts (but be quick on longs here, imho). Established shorts scaled out and are ready to add at higher levels, I bet.
Stay focused, look for retracement that suits your style of trading, and pull the trigger when you are ready. The sell-off is by no means over...

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