Friday, March 26, 2010

1% Drop Waiting to Happen

I believe there will be at least a 10 point drop in the ES either Monday or Tuesday, but the question is from what level.  If we do drop, it will likely be bought up and we'd likely go up later in the week.  End of quarter forces and positioning ahead of the nonfarm payrolls due to be released on Good Friday while the stock market is closed will affect trading.  I am slightly bearish, but want to wait just a bit more before I put down my short bet. 

2 comments:

iv said...

so you have no open positions over the weekend?

thanks for all he updates

Market Owl said...

I have no positions. I'm going to wait and see what happens. I don't want to force anything here.