Friday, August 17, 2007

I have an idea how the Dow will close today but

Like the opening I should have waited for signals to either go long or short. And not rush into the market lacking patience. It is the only attribute that separates a profitable speculator to the myriad others who 'could have, should have, would have.'

One has to anticipate and not play catch up in this business and the only way I have found to work for me is patience.

So the Dow still looks to end strong but there will be signals that this will occur and at which time we will be long stocks. If not I don't think one be short over the weekend. A wait and see approach is at hand once again.

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