Today the pre-market is up, despite bad news at home and relatively good news in europe. Pre-market seems to be going down from earlier highs though. I am thinking big investors know that the good news from Europe are mostly smoke and mirrors and will sell into strength, since today is day-3 of the upward move.
I can't day-trade today, so I am not very sure about getting a trade in today, but if I do, it will surely be a short, maybe I will wait for a peak to form and then short something that follows the major indexes's movements. the problems is that on thursday we got some economic news coming at 8:30 am... given the recent news I think they will not be great (one of them is jobless claims), but you never know. anyways, tough decisions, hopefully won't get burned today.
Gold is still on a downward move, will wait for it to get to it's 20 week moving average and then load up in EGO, but that seems to be a couple of months in the future, so I will let it go for now.
UPDATE (10:30am): So I couldn't help it. The news from europe were not enough to keeps the horrible economic data from sinking the major indexes, the problem is that I am such a chicken that I started shorting TWI almost at the low of the day, I will need to learn a lot more patience. Still, I am not to worried, I have a feeling this will keep going down for the rest of the week and I will make some decent dough.
UPDATE (4:42pm): I traded at the wrong time yet again, I am underwater by a bit more than a dollar!, this is horrible, but I know things will get better for me tomorrow. Today's rally was purely technical: the S&P got to the top of it's short term trading box (around 1,200) and then a selloff begun at the last 20 minutes of the day, leaving the S&P at the high 1,180s, so this makes me believe that the turn around has started and I will possibly be profitable tomorrow. New europe and USA economic news will probably drive the market lower for these last two trading days, I think.
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