Sunday, May 13, 2012

Stock Market Video - Outlook for Week Ahead - "Is Obvious Now Contrarian?"

Hi, traders - I know I haven't been writing much or doing many videos at all recently, but there is a good reason.  We are in a very weak market at the moment and because of that, I haven't been trading much at all.  All evidence I see points to a market that can very easily go lower.  It does seem to me that a lot of traders are expecting a bounce soon, but I think some are overthinking things here.  Being contrarian just because you think everyone is leaning one way might not be the best thing to do. 

In the video, I go over the evidence that is causing me to stay in cash and perhaps start looking at a few shorts this week.  I also discuss what signal I am looking for in order to get bullish on this market and look at some longs. Setups are also included in the video.

Good luck next week - this is a tough market and one to be avoided if possible.

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