Seems like ISIS must have shorted stocks ahead of their terrorist attacks. With no news, the market just got crushed on Thursday and Friday. Now that the bad news is out, and the weak hands have been shaken out, we can finally get a good oversold bounce here. If you took the pain in getting long, you have to ride the pain relief rally on the other side. Otherwise you just end up riding your losers and cutting off your winners. If you are going to ride your losers, you have to ride your losers when they become winners.
I am expecting a lot of resistance between SPX 2060 and 2080. This looks like the market in January when it was chopping around in volatile fashion for several weeks. We will probably repeat that chop as long as the Fed keeps the hawkish tone. They are unusually quiet today despite the Paris attacks. It was a total overreaction by the chicken littles and fear mongers this weekend. Panicking over terror is always a dumb bet.
skip to main |
skip to sidebar
Twitter Feed
Blog Archive
Search This Blog
Posts
Followers
Favorite Books
About Me
Disclaimer
The information contained on this website and from any communication related to the author's blog is for informational purposes only. The analysis and commentary do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading or investment strategy. The materials on this website do not constitute an offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.
No comments:
Post a Comment