Huge Selling Pressure – Will Be Back In July

by Olivier on June 6, 2011

This is my last post for June as I am going to be away and also because I have made it a habit to switch off my computers for 3-4 weeks at least once a year. It’s going to be tough without the Internet but I absolutely need to press the reset button every now and then. Trading is a tough business. Taking breaks is paramount. Then a new cycle begins. Those who don’t take breaks on a regular basis risk paying a high price. Ruining one’s health would be an example of a high price to pay. Be smart. Pay close attention to all the stuff that is not ‘directly’ trading related as well.

I haven’t gone through all my charts today, but a quick glance at the market’s action and I know selling pressure is huge and increasing by the day. A few observations:

Conclusion: Do yourself a favour. Don’t be a hero. Do not catch falling knives. Be patient. Protect your capital!

I will be back in July. I typically need a week or two in order to go through a few thousand charts, do some scanning and then regular website updates will be back. My thanks go out to all my loyal readers and all those who support my work. This is much appreciated!

Here’s a few reading suggestions while I am away:

For new readers these posts are a good starting point to get to know my website:

For all seasoned traders, this is worth re-reading on a regular basis:

For those who prefer to sit back and listen, I did a few audio posts:

Some of my favourite posts:

Do the hard thing – Richard Dennis

My public list with all my charts can be viewed here:

Stay calm and focused.

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