Up and Up

I don't feel well with the current bull trend at the moment. We didnot see any negative day the last week and the bulls are winning for months now. Though as a future daytrader I dont bother too much about this but it seems to me that there must be somewhere a reversal.
I am off course not the only one. This guy is in Chicago and is allmost certain about a peek top this week in the markets even leaving his positions unwatched. I wouldn't do that. How can he be so sure? If the techies on the Nasdaq still rise, well, some kind of panic buying is the result.
The author not certain too about this market and warning for a big reversal day

daytrading
FDAX

Wrestling with the markets

Trading is not an easy job otherwise everyone could do it. Here is a guy who is, after asking himself whet kind trader he is,rethinking his exits when in a good trade. Exits are as important as entries. I am a liitle frustatad that I didn't finish my article about exit strategies yet. I hope to finish it one of these days. Lots to do.

This trader is wrestling the choppy intraday markets, which leaves him not much space to set up enough good trades. He gives some good advice: don't tarde too much but wait to right opportunities occur and read in the meanwhile a good book. There are days in which I just wait for hours and hours, doing other work or just waiting and reading.

The markets up again today. When will this bull rally which started last thursday be over at least for a couple of days?.The S&P at the moment testing the high of early march at 1225.

daytrading
FDAX

Testing higher levels again.

The FDAX testing higher levels today again. It is at year high now. After trying the 4670 without much momentum today the market broke it and looking into new territories. I went long with it today.

A very good article about trading vs daytrading from Stephan Vita describes his experience with daytrading. He gives also a very interesting graph in which you can see the percent of NYSE Stocks Above 50 Day Moving Average. It seems that during time this percentage nver stays long above the 80% or below the 20%. It ios now at 81%.

Panic and business

Thursdays terror bombs in London caused a sharp fall on the markets, eg the FDAX fall more than 150 points in a few hours during the morning. But in the aftrenoon the markets rebounced regained most of the losses of the morning and at the next day they recoveed to levels previous thurdsday. The S&P500 closing even higher then wednesday. See the chart below

The reaction of the markets and the expectations of various traders can be read here in this articele in the New York Times titled Initial Panic Selling Followed by a Numbing Business as Usual. Business as usual.

daytrading
FDAX