Trade what you see not what you heard

sony

Stocks surged Monday as the G-20 nations pledged to keep stimulus efforts in place. The dollar sold off, while gold and energy issues rallied.
The Dow hit a new 52-week high, gaining 2%. Twenty-nine of 30 components rose.
Other indexes missed scoring new highs but were getting close. The NYSE composite jumped 2.5%, boosted by commodity-related groups.
Meanwhile, the Nasdaq and S&P 500 rallied 2% each.
Volume rose across the board from Friday's depressed levels.
Gold producers rose as the precious metal closed above the $1,100 level for the first time.
Learn to stop listening to all those people that march on CNBC and the other financial stations. They have their self interest at heart in most cases. You hear two things mostly. We're going straight up because everything is perfect out there. Or you hear gloom and doom because the world is falling apart. Neither is accurate in my opinion. You let the charts talk which takes the emotion out of the equation. Try as hard as you can to be peaceful and lose those intense emotions that can ruin you in this game. A down day of 30 points on the Nasdaq doesn't necessarily mean doom. An up day of 30 points right here doesn't necessarily mean we're about to break out. Whipsaw lateral consolidations can really play on your heart strings.
Isn't it just fabulous to get 'news' (G20 vowing to keep adding stimulus) that effects the charts at 'key' moments (being at resistance)?  This is why we NEVER trade ahead of the market.  You have to follow the market.  Write that down.  For everyone that went bearish too early today surely suffered the consequences of jumping the gun.

trueself

ranchgirl

Trade what you see not what you heard, that is what I do approximately

busywind

thx