by Jason Ng, Founder, Master ‘O’ Equity

A completely stale day today with the Dow closing up 34.54 points and the Nasdaq Composite closing up 0.87 points. Consumer sentiments continue to corrode for a third straight month, putting stocks down whole morning before some steady buying brought it back up positive. Technically, I see today’s move as a completely sideways day which didn’t even do anything to move the Dow off the short term overbought area, neither did it do anything to change anything I have said yesterday. I have gone completely delta neutral with my market tracking positions and see how the market behaves today.

Such turbulent times are difficult to make a good entry, so all Star Traders need to be patient.

Thought For The Day : “Discipline and Patience are the hallmarks of every successful trader.”

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