Timing Market Turns-2006 Update

Timing Market Turns-2006 Update

Thursday, January 19, 2006

Market Timing for Traders:

Traders should be short.

Investors should still be in cash equivalents

As I stated at my Elite Trader Journal yesterday morning, the upward turn would bounce into today. The downward move should resume tomorrow and end on Monday the 23rd of January.

Don't be fooled by what seemed a "strong" rally. We had commented that S&P 500(SPX) 1283 to 1285 as a "profit taking level."

Further, at 1:11p.m. EST, I posted here to take profits just before the day's high at 1287.

The downward recovery of new swing lows into Monday might get volatile with SPX 1260-67 as the primary level for reversal. Perhaps even lower toward the 1230 level if 1260 is decisively broken.

Good trading and God bless

W. B. Busin


P.S. Intraday postings will continue at Elite Trader, if allowed. I don't mind if you share these postings with others. It might help them at some point.

I have started two blogs to see which is easiest to post to at Blogger and Yahoo. They will be the same exact material, mostly the general outlook for people uninterested in day trading. It arises from a friend's comment that searching through the day trading postings was unpleasant.

It seems Blogger allows posting by email which might allow more of a 1 click type posting. Yahoo seems mighty limited.

I'll eventually drop one when I have a comfort level satisfactory to my ways.

For Day Traders:

http://www.elitetrader.com/vb/showt...6&pagenumber=24

For Investor and Swing Traders:

http://timing-market-turns.blogspot.com/

http://blog.360.yahoo.com/blog-VlOf.dImeaSWYAkdvlEY

http://blog.worldvillage.com/busine...al_markets.html