Market indecision

The key to playing this market is to wait for an opportunity.  Don't chase them.

I was stopped out on friday from my small short position on the nasdaq.  However today we had a slight down day today.  Remember you want to take calculated risks, the short I placed was a setup with a stoploss that made sense, just above the recent high.  Friday it was taken out.  If this week we continue to slide, one could say you should have stayed in the trade and had a looser stop loss. Perhaps, however, after a big up day on friday would it really make sense to hold that position?  So I am out and waiting for another entry that makes sense.  I am still in some metal mining companies actually in three a gold , a silver and a platinum company. 
Gold is also in a state of indecision.  After attempting to break the key 1300 level, it has fallen back to regroup. The metal is over extended so a pull back is expected however depending on the other markets, gold may just hover in the 1285 - 1300 range and correct through time.   What we are still seeing in this market is gold being pushed down during North American hours only to be bid up in the Asian markets.   Remember seasonality is in favor of gold right now.  For key level of 1300 to be take out with strong volume will only occur when either the QE2 is announced, more global instability occurs, or more currency war talk.

Gold is so high because the countries are in a race to the bottom as most believe that the way to beat this recession is to stimulate their export market via devaluation of the currency.  Japan recently intervened, China has not allowed the Yuan to gain value quickly, and the US has been engaging in QE. 

When my article for a school paper is posted I will post the article here.  The topic is on how Mr. Keynes' name has been dragged through the mud unjustly. 

Properly entitled:  "Is John Maynard Keynes turning in his grave?"

Stay tuned.