A View from the Crows Nest..., page-56

Jako - you should get a medal for a post like that!

What's your take on the overall market (XJO) after today. To me it conjures up images of a skyrocket - just before it explodes! I can't see what has driven the highs of today and am selling anything that makes my targets - rather than hanging on to find out it all hits the fan tomorrow (although my trading plan is to sell at targets anyway). Apart from these psychological issues, the chart of the XJO has made a pattern suggesting a short term target of 6000 is likely. I keep thinking there has to be a material retracement to retest the March low - but it's not happening. Could be a big hit if that retracement does come out of left field!
Anyway, I guess it is one foot after the other - until one goes in the bear trap!
Happy trading.