All indices have made fresh new lows for the year......
Will technicians /traders/investors be encouraged to buy @ these levels.....
Markets are certainly deeply OVERSOLD.....so a technical BOUNCE will not surprise anyone.....
The problem is...that LOW begets new LOW...
Crude Oil is @ multi year LOW today.....some are hoping for below $50 close.....
Many stocks & ETF are @ new 52 wk LOWS today.....
My Crude ETF HOU.TO is Down 54 cents....
@12.00 following are green in my watch list :
SOL,BIDU,LULU,NDN,DUG,TKC,CTRN,YHOO,
VAR.
BLOG Does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Schwab says to watch the bulk shipping index for signs of a turn around.
DSX an interesting play, but they cut the dividend until further notice. I'm keeping an eye on DSX for bargain basement price.
Schwab also notes that we should see signs of recovery soon.
Hi Standards,
Thanks for your update from Schwab.
Markets look tired.....
Saleem
Hi Saleem,
Here is the final capitulation below the old low. Should head back up soon. I could be wrong but history repeats itself.
Best Regards
Hi Standards,
Thanks for your optimistic read.
I sincerely hope you are right.
Saleem
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