Until 2009 is here, most of my trades are opportunistic. FXP is one such example. The $CZH, Amex China Index, is finally starting to fall away from its resistance levels.
Based on this, I bought FXP yesterday, and so far it's moving up decently.
Next week is going to be nerve-wracking, because it's hard to say if the first week of 2009 is going to bring a rush of buying. In other words, I wonder if it makes sense to take profits on trades like the one above, even if there's no technical reason for doing so.
I'll tell you this much – – if the first week of January is as squishy and anemic as the current market, the bulls are in for a real drudge; and, frankly, so are the bears, because we need the market to get bid up some to give us better opportunities.
