Markets are taking a negative tone fron CSCO'S tepid guidance and fed announcement @ 2.15 PM.
Markets are in OVERBOUGHT territory and need a well deserved rest.If this overbought conditions are further stretched then the correction will be very severe.
Selling in the rallies is a good strategy now.
Try to lock-in your profits before it is gone or reduced.
Try to go for quick trades now......... based on your expertise.
I see only ONE catalyst between NOW & August.......it is takeover ............as liquidity will CONTINUE to play a role in driving certain stocks HIGHER.
Try to position in good beaten down stocks where either the CEO will leave or takeover is possible.
Rio Tinto is being touted as takeover story of the day by BHP.
Disaster du jour is DNDN...where approval for Provenge was denied and is down big in pre-market.
Good luck on your strategy.
Please do your own due diligence.
BLOG does not give buy or sell.
Saleem
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