New lows

Like I posted here at the start of the trading year the markets came all back to their lows set out last year and below. February is always a brutal month and so far this holds true for this year as well. There wasn`t much to post in the last couple of days as we just keep on grinding lower, slowly and steadily. For me it seems like the days of panic selling that we saw in October/November 2008 are gone for now, and the markets are entering a new phase in this bear market, namely the slow and steady bleeding. This is part of the game, and I tend to interpret it as a positive, although we are still far from finding a bottom we come one step closer. But no doubt, there`s still a long way to go and it will get even more difficult to make money in this market. Back to the shorter time frame, I am careful here with entering new shorts as the market is heavily oversold and a bounce might be coming up soon. For today, mostly I will watch the AG`s which had a terrible session yesterday and seem to be setting up for a move down shortly. Stay smart.