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What to do now?

    Well the S&P held its levels, which tells me the bulls are still hanging on. Which got me to think what is my next move. I believe the market is over bought and over valued. In other words I'm still bearish. I am still hereing knuckle heads on TV saying buy, buy, buy which is good for a bearish postion. Why, because you don't want to be on the side everyone else is, you will never buy or sell at a premium. So in my opinion you can be a trader for the down side in this market. I have been trading the FAZ ( because I like to trade financials) at around 22.50 and selling around 24 for the past few days with great success. Moral of this story is pick stocks you like, try and figure out what trading range they are trading in and trade. This is not for everyone but if you're an active trader this technique is quite lucrative. Obviously as the market moves higher or lower trading ranges can and do change but most stocks trade between certain ranges. Think of it like coffee in the grocery store, most of the time coffee sells for about $7 to $8 a can and then down to about $5 a can when I'm in the grocery store and see coffee at $5  a can I buy because I know I'm getting it at a premium. Buy the way don't buy FAZ  or anyother stock until you have researched the market and etf's they can be very risky trades. I post these blogs to help others where I have failed, also would love input on what you are doing and Ideas you have about the market.

Good luck , and Good trading 

Watch the FAZ tomorrow looks like it could fall in a nice range to buy.


Steve