Thursday, July 15, 2010

Selling on Weakness vs. Selling on Strength

Today I was forced to sell on weakness. It is the thing I hate most. I only do it when the market proves me wrong.

I was expecting an initial rally towards 1101.25 on the ES and then a big sell off. Instead, the market started falling from lower levels and broke yesterday's low. Since I thought there were great odds of a correction and the market was so weak I had to assume that my initial projection was wrong and sell even on weakness.

No comments: