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I, for one, am ready to punch this market in the throat.
Since I can't do that, at least I know 2011 will be over in six trading days. I've had enough.
Now that the mere marking of a new calender year is suddenly going to change everything. But this market is driving almost everyone batty. In case you forgot what a trend looks like, here's the latter portion of last year on the NASDAQ:
Yesterday I sold and closed all my long position in the face of a massive upturn and I myself doubted my action. But in the end, we have to follow the methods and rules and not be ruled by emotions. Stock market is almost like playing a game of Texas Hold’em. We have to keep the nerves and win. It was a good call to sell yesterday and I got a better entry price today apart from locking in the profits. I immediately Twitted my readers; http://bbfinance.blogspot.com/2011/12/trading-journal-december-20-2011_21.html . By the way, did I tell you that today was a massive T bill sale by the Fed, the last one for the year?
For the bears this is a disappointing day, they came strong out of the gate, but with an hour left in the market, the bulls are fighting their way out of the whole they dug early on. I wouldn't put a lot of weight into what we are seeing as volume is drying up quickly and the Christmas day is quickly approaching. So it isn't hard for stocks and the market in general to get 'manipulated', particularly with year-end window dressing quickly approaching.
