Dave Landry

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Q: What things can I do to avoid psychological mistakes?
A: See page 102. 

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Got Random Thoughts:

The market had a decent day net-net. Unfortunately though, there
was no intra-day follow through. The gains were made on the open
and that was it. Nevertheless, the indices still made decent gains. 

I try to avoid the news but I accidently saw (yet another) "Europe
No Longer Matters" type headline. Yeah! I'm gonna tell all my
friends! Seriously, this is fine with me but we've seen that
before. I bet you a beer or a Mountain Dew that we have a "Europe
Matters" sell off in the not too distant future. 

Okay, back to the charts.

Yesterday was an expansion of volatility type move. It has the Ps
breaking out to multi-month highs, clearing short-term resistance.
This is a good thing. Unfortunately, since markets often "fake out"
from a low volatility situation, follow through will be key.

So what do we do? The longer-term trend still remains sideways.
Shorter-term the market is overbought and has a ton of overhead
supply to deal with. This is not the best environment to start
making investment decisions. 

Considering the above, nothing has changed just yet: If the market
can plow through all the overhead supply, then I'm all in. If not,
then I'm somewhere in between--picking my spots carefully, taking a
"stab" here and there.

Futures are soft pre-market.

Best of luck with your trading today! 

Dave

Questions? Comments?  Buy my new book, read it, then shoot me an
email at dave@davelandry.com or call me at(1) 985-898-4993. 

Disclaimer:

All predictions are about the future. A lot of $#*!  can happen
between now and then. 

Information is provided for educational purposes only. 
See more disclaimers at www.davelandry.com