Friday, May 7, 2010
Surprisingly Complacent
Maybe its the stabilization of the European market or the jobs report, but it is surprisingly complacent from what I see on the news. I think that spells bad news for today. I would be careful buying. I'm beginning to think more and more that we're going to have a big gap down on Monday.
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2 comments:
You said: "I think Europe has bottomed, so looking out towards next week, I would be a buyer, not a seller." and now we gap down Monday? I'm afraid you're emotions are getting involved.
I'm currently flat so I'm not being emotional at all. I don't see a good risk reward yet. But it seems like we need to go lower before higher, not higher before lower.
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