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Kingsley Anderson's  Instablog

Kingsley Anderson (pseudonym) is a long-time individual trader that primarily relies on technical analysis to decipher the markets. Before becoming a trader, he worked as an attorney at a law firm, handling such issues as financial and white collar crimes. He also served as a judge advocate in... More
My business:
Trade The Breakout
My blog:
Trade The Breakout
  • Is The Market Rally For Real?

    Whether we are seeing the beginning of a new bull market or just another bear market rally, the two month upswing has been quite extraordinary. As can be expected, the perma-bears and perma-bulls are out in full force, arguing their case with the vigor of someone that has a direct line to Nostradamus. Where do I stand? While the recent move upward has been encouraging, I have not joined the longs. Why?

     
    Unless one is willing to cut losses quickly, playing rallies during a confirmed bear market can be a dangerous game. Sure, this rally has been more than a three day wonder, and if you played your cards correctly, you are sitting on a pile of money. Congratula... do not begrudge your success. However, if you played the last several bear market rallies and did not move to sell quickly enough, you could end up in what one of my former non-commissioned officers referred to as, the “hurt locker.” For every rally that sticks, there are three or four that do not.
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    Tags: DIA, SPY, QQQQ, technical analysis
    May 08 06:27 am | Link | Comment!
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