Thursday, August 11, 2011

The Current Market Environment.....

What we found out last night (we had a hunch before)......

This market is currently being dominated by technical traders (like ourselves) that are scrambling for the best prices. It is now over saturated with us. This is creating a vacuum. The vast majority of trades are being done by technical buy/sell points without much real thought. What this means is....time to shift gears! The "Bots" will jump on any direction the market will start to go. It is now time to look for value and start to think. The computers won't think, they react. A computer doesn't know value. I have a feeling this will all be over by the end of the week (at least for a short while) as the value seekers will over-turn the "bots" and they will have to buy. This is a marked difference from my post last night (as I was still in "BOT MODE"). Time to use human judgement as there are way too many technicians running the market right now....