Taking a Break...

I know folks have been wondering where my posts have been lately. Well, I am here and somewhat inactive. It is that time of year and I, like many others, am taking a breather from the rigors of trade. Judging from the hourly, we remain range bound as it seems and I have little confidence that the market is going to make a major move either way between now and the New Year.



All my analysis now focuses on my accounts and how to best realize gains and losses for tax purposes. I am also in the process of an "end year review" to see exactly how well (or poorly) I traded.

A much more important activity is celebrating my son's acceptance to SUNY Geneseo for the fall of 2010. Geneseo, a well kept secret, is ranked as one of the nation's top public colleges - and one of the most selective. He plans to study physics and mathematics in pursuit of a career in research and teaching. He is a bright and warm person who deserves nothing but the best. May he never be tempted to apply his analytics to the markets!

For the rest of us, let's keep an eye on that 1113 level. A break above would invite the run to 1120. Let's hope the break down below the 20p MA on the hourly leads to a more aggressive run through the 50p MA and all the way down to the final break of support at 085ish.

Good luck folks!