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The market
has not done much for the past couple of days, as far as Swing Trading is
concerned. Basically, after the huge move on Wednesday, the market spent
Thursday and Friday just digesting it. We are in the process of forming another
price pattern here, so there is another move coming up, but we have to wait
for it.
Overall,
the market is still in a major down trend. As long as we have lower tops
and lower bottoms, we are in a down trend. It would take a higher bottom to
break the series and put a stop to the down trend. Until we get such
bottom, we are going to flow with the market.
If and
when the market decides to resume the down trend, as in another wave down,
our goal would be to accumulate a short position again and take advantage
of such wave. The first wave in this down trend proved to be very
profitable for us.
We have
hurricane Wilma to contend with next week. Don't forget that we are in
South Florida, so we may be affected by it. We will do everything we can to
post newsletters for you, we don't expect any interruptions, but just be
aware.
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