Tuesday, March 05, 2013

Ello Ello, what's going on 'ere then???

Hmmm... it seems like there are lots people are trying to find a reason as to why the Dow has hit all-time highs today, with other major indices moving up in concert. I also know there have been plenty of bearish traders frantically re-drawing trendlines, megaphone type patterns etc, almost on a daily basis, trying to justify their pre-conceived notions about where price will go.

Of course, it will come as no great surprise that trend followers have predominantly been trading on the long side for quite a while now. As I said in this post a couple of weeks ago, this could be the start of a major move. We won't be going all in - it pays to use prudent risk control at all times, however, until an exit signal is given, the markets have spoken.

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