Wednesday, August 26, 2009

Will hold overnight

I am going to hold my one long unit overnight. I think tomorrow will be a bullish day with a likely high of 1040. Support at 1015-16 is very strong and I don't think the market will trade below there before it moves as high as 1054.

3 comments:

Epicure said...

I agree with you it seems very clear to me that the only way to go is up..the long awaited correction will have to wait another day...or another month

catherine said...

Epicure - nothing in markets is guaranteed.
When I hear from everyone, the only way to go is up, I usually do the opposite.
I would keep an eye on the baltic dry index, copper, east european stock markets and currencies, chinese markets, and gbp jpy.

Harsh Nahar said...

Dont know which way market is headed right now. Feels strange to not be able to make a view now. SO I am sitting out. In case you havnt seen. Doug Kass, who called market bottom in March, says market has peaked.

Time will tell if he is right.