Online Stock Trading | All-Time Highs, Are You Trading Scared?

All-Time Highs, Are You Trading Scared?


Filed Under Market Commentary |

The market continues to notch new highs as our dedicated noise producing talking heads on CNBC and nightly news worry that this all may come to an end.  With GOOG, RIMM, BIDU, AAPL continuing their strength there isn’t a reason to panic because we are at all time highs.  We know better than to listen to commentators on television who are representing their own interests and not your own.  With nice gains over the past few trading sessions at some point the market will consolidate its gains.  So long as we are getting higher volume over the previous day on higher trade we’ll continue to point to higher stock prices.  Keep in mind that uptrends do tend to experience some distribution days however, we’ll need these to pile up until we need to worry about them.

Another stock to add to my flag pattern collection YTEC.  YTEC has made an incredible run here, I would like to see it put in a nice consolidation period forming the flag pattern.  From its low in mid-September the stock as climbed up near 100%.

Until this trend changes, continue operating on the long side of the market.

Market Speculator

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Comments

One Response to “All-Time Highs, Are You Trading Scared?”

  1. Jesie on October 11th, 2007 9:22 pm

    Thank you for sharing your opinion. I am looking for your bookmark or other widgets.

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