Consolidating

Looks like the Dow wanted to break 14000, but the rest of the market wanted to consolidate. So we had a mixed market today.

1. I started to work on my research on various indicators and see how they react to market events, hopefully these research can yield some useful buy and sell signals.
2. I think the market will continue to stay flat until there are other forces (earning news) to push it to new highs.
3. Since it's overbought in general term, I won't chase it to buy here, but may add on a pull back.
4. On the other hand, I may get better chance to short it first should it push too high too fast, which is very likely.
5. There are MA news and AA maybe a target, and there are lot of other MA activities, looks like the CDO issue and subprime is taking a backseat again. And too many shorts are trapped in a bad position, just like I did last week, I'm sure bulls want to run them over but we'll have a meaningful pullback.
6. So I'm still backdating my indicators and will wait patiently for my setup.