Friday, March 19, 2010
I feel the start of the dreaded correction that many have been anticipating may now be upon us. Usually when I enter off of a resumption from a pullback in a leading stock such as CHOP it either works immediately with the market indexes also moving higher or it reverses and stops me out while the markets pullback. Right now CHOP is not acting like it wants to move higher and a couple of it "cousins" like FSII which broke out a few days ago are also stalling. So I am fearful that a correction may be upon us. However, because of past experiences my hands are tied and I am forced to let the CHOP trade play out either stopping me out or moving higher eventually. The market has and will always throw mixed signals. I have been burnt too often from second guessing myself. I already have my plan and I am going to stick to it to the end. There can be no other way. Or else I will be doomed to failure!