By Ryan McGuire
It's anyone's guess. Seriously. Resistance is not being broken on the Tran intra-day charts - and the Dow is currently trading down. That's not a good short-term sign. On the other hand, the longer term charts (maybe the next month or two) look good for the major indexes.
Be cautious ... very cautious. ESPECIALLY if you are a day trader, or trade on margin. Markets like this can wipe you out if you aren't careful. That's why I recommend Scott Pluschau's service as well as Toby Connor's service for Day Traders. They aren't cheap by nominal standards, but you get a ton of value for the price you pay. In fact, if you have dreams of day trading, you should not go it alone, despite what the rugged individualism of our civilization might otherwise predestine. Find a trading service that fits your needs, and run with it.
<rant>
My Personal Opinion: Don't day trade unless you have the highest tolerance for risk. Reality is that while 100% of investors would like to make fortunes at trading, 99% of them cannot be successful traders (or even successful investors) because they do not posses the nerves of steel (or tolerance and patience) required to complete the task. I include myself, and the majority of people who trade for big investment banks in this category. Unless you fit the small margin of folks who can actually do the job and live a balanced life, you likely need to stop before you hurt yourself or someone else. Instead, spend more time with your family and less time figuring out the charts. Leave the charts to those with the nerve and fortitude for the job, and learn from them as you also enjoy the meaning of life.
love.
... or as the Greek's called it, "agape".
This isn't the mushy, self-absorbed love you find in twilight - it's the selfless, incredible love you find in the people you know who would die for you. If you don't know anyone like that, find them. That's the kind of love worth living for. You won't find it in products or services. You can't. There's too much at stake.
Actually, there is too much at stake altogether.
People in our culture want to be things we aren't. We see people who are financially successful and we think, "wow I wish I could do that", but we deceive ourselves in the process. We forget our own unique talents, gifts and love as we try to pursue things that our culture says are important. No. Be who you know you were made to be and leave everything else behind. It's OK to do that. Really, it is.
So if you aren't good at day trading, then learn how to pick good mutual funds or ETFs. If you have the educational skills, keep a basic knowledge of sector investing, then dollar cost average and balance/re-balance across the main economic sectors (finance, consumer, mining and utilities) for the rest of your life and leave the grunt work to someone else so you can spend time developing your talents and gifts ... not someone else's.
</rant>
Not just happy investing, but happy living
R
