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Here is yet another good written article by Joe Ross. I wish this article came out last week. I probably would have thought twice about some of the trades that I took this week. Well, maybe not. I seem to learn the hard way. Loses are how the market wakes us up and makes us stop and think. Pay attention to them. Study why the loss happened. Were you trading against the trend? Were you not trading “Your” setups? Was price action just unexpected? Don’t let it be a shoulda, woulda, coulda experience for you. Review your trades. Review what you were thinking at the time. Were you trying to force something that was not there? Please read the article

Joe Ross' Chart Scan Newsletter

DJ

Written by Brad Zigler
Friday, 06 February 2009 12:46

Real-time Inflation Indicator (per annum): 7.9%

Have you seen silver recently? The metal's taken out some significant overhead resistance. This is not just some technical prattle; silver's rally has developed some legs.

London Silver Fix



That's not to say that the metal is out of the woods. This morning's higher London fix, however, encouraged silver bulls; the COMEX follow-through was even more supportive.

Silver's been taking cues from both the gold and crude oil markets. The bottoming action in both markets, ...

Markets again struggled for direction during much of the week as major uncertainties persisted. A rise in the Chinese PMI indices for January, allied with further government measures, underpinned confidence. The actions of policymakers also remained under close scrutiny over the week. There were some signs that recent trading patterns were breaking down as the Euro and yen tended to weaken together.

The US ISM index for the manufacturing sector was slightly stronger than expected with an increase to 35.6 in January from 32.9 the previous month, the first increase since June. The orders component improved, but the employment index was unchanged at an extremely weak 29.9. Similarly, the services-sector index recovered slightly ...