Indian Charts: SnP 500

Tuesday, August 30, 2011

SnP 500

The SnP is hitting IMPORTANT resistance here. The BLUE dashed line.

Another chart. I think just a little bit of spike coming and we touch hat PARALLEL channel red line. That should come around 1230.

All technicals at overbought levels. No point going LONG now. We should come down shortly.

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Words of WISDOM

"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."

---Jesse Livermore

"What beat me was not having brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favoured my play. There is the plain fool, who does the wrong thing at all times everywhere, but there is also the Wall Street fool, who thinks he must trade all the time. No man can have adequate reasons for buying or selling stocks daily – or sufficient knowledge to make his play an intelligent play."

--Jesse Livermore

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Tuesday, August 30, 2011

SnP 500

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