Fear: still the dominant emotion

At last! A decent day. I have been waiting a long time for a day like today. I made the right judgement to buy shares in the US and the UK. And my gold and silver positions also chipped in some profits. But it is not time to stop feeling nervous since the market has been volatile and can turn on a sixpence. I need to be ready to jump if those profits start to evaporate.

As I suggested yesterday I bought some US stocks. They have generated some spectacular returns - in just one day: GITV +3% TSL +8.9% STP +15.3% CSIQ +5.1% EK -6%.

But there are lots of areas of resistance to break through as shown on today's graph.The first has just been broken at 11890. The second is the 200 day moving average at 11965. The third is at 12090 and relates back to support back in April and then there is 12300. The upward movement could snag at any of those points and hard won profits could disappear. I just have to hope that the shares I have picked move rapidly upwards and that I am not too greedy and cash in my profits in time.

I also have to hope that gold and silver are also carried upward by this rally.

Fear is still the dominant emotion.