Friday, April 16, 2010
More Volatility Ahead
The action today comes after we had the two highest ISEE call/put ratio readings in its history. I don't think that's a coincidence. Over the past 2 months, complacency has slowly been building up and it climaxed on Thursday. It makes me believe that any dead cat bounce will be an excellent shorting opportunity.
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2 comments:
Yeah I think market is going to be spooked by financial reform. For the near term. What happened today is going to be a sign of things to come I think people will speculate. Anyways for the rest of the year I doubt the Demos will allow anything but a strong market because they need a strong economy to get reelected and what else is more telling of that than 1300?
Looking at the charts of the major world markets, an up day on Monday is warranted. Also after hours trading of several stocks and ETFs suggest a coming up day. However, if Asian markets Sunday evening continue the descent, I'll look for further declines in Europe and the US.
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