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Published on Sep 13, 2011
Let's take a look at the big picture and what it means today. There are a number times when the markets trade erratically. When this happens, you get out of the market with some quick move either up or down against you. Then, the market immediately goes your way the next day and afterwards you say to yourself, "I should've stayed in!"
That's why it's important to look at the big picture, and the big trends. What looked like a possible reversal yesterday, did not change the big trends in the markets. It just doesn't happen in one day.
So let's look at the big trends in the various markets we cover. Equity markets, the big trend is down. Metal markets, the big trend is up. Crude oil, the big trend is down. The dollar index, the big trend is up. And lastly, the CRB index, the big trend is down.
Providing you are trading in the direction of the major trend, you have the odds in your favor. Always remember to keep your trading logs and game plan up-to-date. They will help you become a better trader.