Monday, January 12, 2009

Looking for some buyers


I'm looking for buyers to return to the market, but earnings reports among other things has them spooked. As a result the market has taken a turn from its highs, and broken through some important levels, but as long as it doesn't make a lower high, it should be okay.

I am still holding my long position. I got caught in a gap lower, and did not want to liquidate. I have held on hoping things would turn around. So far, no go. However, if the Q's can hold above 28.80ish and make a turn higher, we might have a continuation of an uptrend on the daily time frame. From there I will look into expanding my long position.