Trade Ideas Blog
Signposts: A Method of Market Forecasting Which Strategies to Employ
Oct 26, 2009
3 Roadsigns popped up today from 3 different people whose opinion and calls on the market activity I respect.
These people aren’t market timers – if anything they’re probably early with their calls, but when I hear or read people I respect offering these types of market forecasts, I pay attention and start to pull up previous strategies I think might be appropriate – in this case Bearish.
Here’s the evidence:
@steenbab 11:25 AM CT – Midday briefing shows significant selling pressure in the wake of USD strength: http://rurl.org/223vabout 6 hours ago from web
@AnnMaries2006 So many failed breakouts…sure sign of resolution to the downside for now $$about 3 hours ago from Seesmic
@TradeIdeas1 http://chart.ly/2ang29 $SPX – One of the ways that helps me know which way I should be trading is illustrated in this pictureabout 3 hours ago from Chart.ly
Signposts can come from anywhere. The reason for them is simple: to understand with more clarity what’s coming ahead. Devise your system of signposts – of places that will deliver the information you’ll use to understand the larger, dominant themes in the market, so you’ll know whether your swimming upstream or with it.