Dow still not able to close above 13,000. Tonight is non farm payroll. Tonight could be the night, either the bull charge or retreat. HSI is flirting at resistance. Therefore watch your position very carefully. Draw a support and resistance line. Break above is long, break below is short (although I don’t quite like to long, but then, it is just me). So far bearish candlestick in S&P has no confirmation, which shows that the bull is still strong. There has to be a time to rest, but those that tried to short at the top has been BBQed. Safest place to short is always on lower high but people will still want to short on highest high because of “personal achievement”. It is like saying, “I shorted Cosco at 8.20 and still shorting…”. Those kind of statement will make people envy, right? But it is a very expensive statement because picking the top is very expensive.

Now is the time to be patience. The alert I sent out early in the week is still valid for today as I put in the Entry price that is conservative. In other words, if it does hit, then market is really coming down. Therefore so far, no hit means no entry and market is still moving up. If you entered to short blindly because you do not want to wait for it, or want to have more profits,, then I hope you realize why I have the Entry Price. Why bother spending time to calculate the Entry Price if one don’t want to wait? Might as well I say xxx counter and AHA (Anyhow Hantam Analysis). I trade using technical analysis, and technical means technical which means there must be something technical (no idea what I am trying to say) and numbers has to be involved.

And definitely, now is not the time to be a hero. Patience.

Note: There are individual counters that are moving, but I am looking at the index for overall market condition. Penny counter looks weak. Blue chip seems to be running out of steam. Now market is no longer running on stored energy but just using artificial booster to keep it pumping. Just waiting for it to get overdose.

NOTE: Thanks for the Alert! There is no Non-Farm Payroll report out tonight. It has been postponed to next week. Therefore, tonight high probability would be a low volume drift higher… unless there are some news out from Europe.