Thursday, June 6, 2013

One More Push

Premature on the BTFD call yesterday.  A potential cascade lower down to 1595 is possible now, but that's only 10 points away from current prices.  Whether you buy at 1605 or 1595, it should be a profitable trade with limited heat unless we have a different market, which I put at a low probability.  Still going by bull market rules.

Interesting to see Treasuries acting quite weak despite equity market weakness.  I really don't see how the Fed reduces asset purchases, the economy is getting worse, not better.

Looking for a bottom today or tomorrow, to ride into next week.

No comments: