Wednesday 10-03-2007

9:00 AM
Today is the prefect day for adding positions: The pre-market is down. Yesterday's market internal is very strong.

1. Add GLD 200 as planned;
2. Buy 400 shares of PWRD, who is in 3D gaming play in renshan2735;
3. Too late for selling MPEL is down pre-market, just hold;
4. Looking for load up in renshan2 with some momentum play.

11:00 AM
I know that I am getting better, at least I have been riding with the market trend. The market is decisively going up from here. 2 good days of consolidation. Stay long.

By large, I think I still have some psychic mental blocks when the indices making lows, and don't have the motivation or energy to act. I knew I was not fear or scared at all. But it was kind of lack of energy. Basically, I should buy at the market low.

Another observation: when in the minor correction or consolidation, the 1st day is the day people were just out from the bull, so people are still very bullish. The buys are flood in at the open, and the market shows very strong resistance. In 2nd day, some weak hands start being shocked out. So the sells should be much fierce than the 1st day. In the late of the 2nd trading session, the buys re-surge, and push the market up to the trend.

3:00 PM
Home work: how to identify and deal with correction, need to find a system to deal with it. During 2-2:30 pm, I bottom-fished a few stocks, but the timing was still way off.

Strategy:
1. Again, based on TAs, although it is hard to do when at work;
2. Buy dip on dollar average;