Tuesday, March 8, 2011

State of the Stock Market - 3/8/11 - "Let Me Repeat...Stay Away!"

This tweet I sent this afternoon should pretty much sum things up....


I honestly don't have much else to say.  We could go either way from here but aren't going anywhere at the current time.  I'll do my regular work and try to be ready for when the market decides to get out of this range, but in the meantime, cash is the best position for a swing trader to have.   I am very happy being 100% in cash.   Take care.


5 comments:

Anonymous said...

agree Mac there is no edge for the swing trader in this mkt

marc said...

Mac, some great movers today in RNET, VIAS, and INPH. I was wondering if u subscribe to tc2000 the platinum edition?

Mac said...

Marc - I did see INPH in my end if day scan but for me, with work, it's too hard to catch those intraday moves.

I subscribe to the gold edition of telechart as I don't trade much intraday. I have the beta version of tc2000 but am still trying to feel it out a bit. I am so familiar with the regular version that it will take some time to change. I do like the idea of being able to get to your scans on any computer through a web browser.

Paul D said...

Its definitely a choppy time right now. Very indecisive market. I am following your advice and trading very select setups.

Jake Perius said...

I just saw this post and had to comment because I could not have agreed more! Even today, it's dangerous; there is no clear direction. I'm just waiting until it finally chooses a direction. Let's see what next week brings!