Some trading opportunities on the DOW
I have my day off today and I wanted to watch the markets and not be desperate to trade. A problem is that when I come home from work and find that the markets have moved a lot with a lot of profit left on the table, I feel that I missed a fantastic opportunity and feel that I need to do something to get some of the profits.. as a result, I fire off trades from my trading platform even though there is no real reason to.. this amounts to losses and then frustration.
However, today, I entered a great long at 11520 and rode it all the way to 11600. The market went higher to 11640 however before easing off. Now the markets are consolidating and could be setting up for another move upwards.. however, the MACD and stochastics are turning for the lower in the 5 min charts and I am thinking that this could be an opportunity for a short trade. However, picking potential tops and bottoms are very dangerous as you’re going against thegrain of the momentum.. the markets have really romped up today and one would expect some sort of significant pullback.. I am thinking that it maybe now but then again, you never know… let’s wait and see…
