Wednesday, January 18, 2006

Still on a momentum sell

My system has been on a momentum sell since 1/12 and continues to be in that mode as of today's close. If we close in green tommorow, i will get a momentum buy signal on the daily again. On the other hand, one more down day tommorow will start flattening the rising EMAs and could potentially change the trend. But for now, the daily trend remains up and this is nothing more than a pullback in the uptrend. Since i trade the momentum and not the price trend, until there's a momentum buy, i will continue to play the short side of the market.

Daily - Sell
Hourly - Sell
30-min - Sell
15 min - Buy

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