No easy money in the market

No easy money in the market !

Today's market action shows some weakness. It just doesn't ignore the bad news anymore.

I think I may be too bullish last night! The uptrend line drawn last night is broken today with a gap. More important, NASDAQ close below 1800, which is an important level. As mentioned last night, the no trend market fluctuation may continue !

The market is still in a correction mood since I marked the top of NASDAQ on June 12, 2009, which are quoted below:" Based on the moving pattern of QID this morning, I feel that yesterday 's 1,879.92 of NASDAQ may be a top/high for some time. "

Based on today's action, I feel the market correction will continue with a fluctuation pattern between 1880 and 1665. Here is the chart for these two numbers. That's the battle between bulls and bears. It may last some time until either bulls win or bears win.

If bulls win, a breakout of 1880 will be the sign.

If bears win, then a breakdown of 1665 will happen.

Either breakout or breakdown will bring in a good market trended move, that's where some easy money can be made.

Personally, I am still bullish. Once 1880 is broken out successfully, I think, the market (NASDAQ) could run up to above 2000.

The most difficult part for trading in the stock market is right here. Namely, when the market entered into a no trend fluctuation period. I have no clue how long it could last. I also don't know how many times the market could be bounced back and off by the two lines before a breakout or a breakdown.

One way is to stay away from the market and have a good time to enjoy the life.

Another way is to focus more on individual stocks. For individual stocks, it's very important to plan ahead and carry out the plan accordingly!! I usually employ two ways to exit a stock: one is the technical target is reached. The other one is the weekly chart shows the topping pattern!

Again, no easy money in the market. The key is the patience as well as knowing why you buying and selling.

Enjoy the long weekend ! It should be very fun !