Short note -- Monday, Dec. 17, 2007

About the weekly trading calls

Sorry that I did not get time to do it this past weekend, and I probably won't be able to until after the holiday season -- will spend time with several friends who will be visiting during the holidays.

On the market

In short, the market has been acting pretty much like what I predicted in the Dec. 8 weekly calls. As the major indices and many stocks approach oversold on both daily and 60 min charts, I expect their initial tests of the previous lows likely to be successful, even triggering some Ho-Ho-Ho rebounds:P But in my view, last week's Fed action and maybe more importantly, the inflation signs, are fundamentally changing the psyche of this lasting bull market. Even though it might still be a bit too early to build up short positions, it is high time to reduce long positions on every rebound from here on.

On Ameritrade's StrategyDesk

I have been back-testing some trading strategies, and when I get chance I will post some of the main findings here.

Link for RSS subscription
I figure some readers might like a RSS subscription link here, so I decide not to wait for the Blogger.com to formally roll out this feature -- I just add it using a free service from Addthis.com. Let me know if you have any problems/coments.

Until I resume the regular weekly trading calls, I will try my best to at least post some short notes like this a couple of times per week if not more.

Happy holiday and best wishes!

fw