daytrade diaries... november 6, page-59

It is never a wise thing to try & foretell the future, but we do need to develop risk management strategies to deal with the expected outlook.
After over a fortnight of poor performance on the NYSE we saw a very positive performance last night with Advances exceeding Declines 2,817 to 697. My Advance Decline Line Breadth at 61,866 still sits below the 30 Day Moving Average of 62,934. During this past fortnight we have witnessed some very wide swings in the overall market.
The Dow looks to still be above its trend line, while the NDX & SPX have both broken trendlines with recent lows & bounced.
At this stage I will remain cautious, because I think the market is going to give us a clearer direction over the next few trading days. Yes a little patience in waiting could cost us money but it could also save us a lot of money if things again turn down.
Regards
Buffett
PS No Investment advice given please do your own research