Welcome

This blog is for all those who are interested in all aspects of investing. We hope to build a friendly community of investors, to share opinions, advice, and to ultimately achieve success together. We will look at both fundamental and technical aspects of stocks to gain a market edge. We wish to explore the strategies, psychology, and philosophy in order to succeed at this game. Everyone is invited and encouraged to share their thoughts no matter how old, educated, or rich. Let's help each other to meet our financial goals.

Questions, comments, and suggestions are welcomed so feel free to email us:
peginvesting@gmail.com
psyduckpoker@gmail.com

Wednesday, November 28, 2007

Back to Business

Last week during the Thanksgiving break, I decided to wait on the market to determine the next direction. I didn't daytrade, but rather just held onto my long positions which got crushed on Monday's selloff which closed at the Aug 16 lows to form a double bottom. I expected a big rally was due to happen and sure enough a 4% rally in the indexes in just 2 days! Is this another trap set up by the bears or are the bulls starting to take over? The general trend is still down, but the huge move up is reminiscient to the previous correction. Overall, I'm bullish going into December, but the downtrend makes me cautious. Tomorrow, I think we will continue up towards 13400 in the Dow only to reverse back down and form some higher lows on the charts. A pull back near 13000 would be very nice and I'm expecting that to happen to form a potential inverse head-and-shoulders pattern. I'll be waiting to go short as a hedge to my longs.

No comments:

Disclaimer

Information published is purely for educational and entertainment purposes only and is not a recommendation to buy or sell any stock. Investing in equities could result in you having to lose some or all of your money. Before investing your money, you should always do your own research and always consult with a professional . Peginvesting posts stock information with unverified shares in companies and may buy or sell at any moment. This website does not tell you to buy any specific stock or to invest your own money in a certain way. Past performance does not guarantee nor will be indicative of future results. Peginvesting deals with rapidly varying ideas and some may be gossip. Equities featured on this website are high risk investments which in some cases may include penny stocks. We are not liable for any incurring financial losses. All statements of fact and information used have been taken from all sorts of online investment and financial websites. We cannot completely verify their accuracy and they are subject to change. All opinions presented herein are strictly that of Peginvesting and its contributors and should not be used to base your financial decisions. Content from this website cannot be disseminated without the expressed and/or written consent of the publisher(s).