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发表于 2012-5-31 03:32 PM
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No medium or long term trade today. The following explains my portfolio as of today's close:
Long Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: NO POSITION (no change)
The market set the new low of this week today, closed as a long legged doji (long pin) after volatile washes on both sides. As we know that last week's low was a very critical point in TA perspective (50% and long term up trend channel), it was hard to get it penetrated in the first try. Today's low tested that area as the third try (2nd try - 05/23/2012). There is a Chinese saying that goes like this: Nothing Should Occur More Than Three Times (事不過三). Therefore, next time if the market wants to test that area, it will break!
TLT gapped up again and surged with heavy volume. Out target for TLT is 131 before August or 146 before October. We will start unloading depending on what the momentum says. Again, the stock market's bear run is far from over! DO NOT buy any dip! |
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