Well.. I can’t seem to obtain a grasp of the market.. what once was a good way to day trade, seems very choppy lately and no one quite has a good handle on where it could go.
A very good resource I use is looking at the S&P going to 600 – 650.. while most (like myself) are expecting at least some sort of bounce today or the next day.. as we have’ had over 8 ‘down’ days in a row.
I’m still in DRYS looking for something special.. but not finding much.
Lost a bunch on my other account playing GNW.. unbelievable that this one is down to 1.30 at the time of this writing.. It’s hard to make money on the upside right now when you don’t know how limited it is.. I think that’s what the problem is. You get in, but have no idea when to get out.
Anyhow.. GOLD has been an interesting play lately, as it breached the $1000 mark and has now re-traced back down to $960.. more downside I believe to come, but on the long term I think GOLD is going to rebound first before any of the equities do.
GOLD – Daily
