Markets were displaying textbook technical action...breach old lows & rally hard in a V pattern...
After everything is said & done..most indices logged on 11% gain from low or close to 7% UP on the day...NICE..NICE...NICE...
So where we go from here???
This rally is in anticipation of G20 meeting this weekend...which should hold until Monday....
Markets are discounting lot of issues with decisions taken already by major central banks.....this is a work in progress.......
INTC bad news was absorbed by this market NICELY with a green close in INTC & techs.....
Anytime we have a rally close to 20%...time to get DEFENSIVE....a good strategy may be to write covered calls near those levels.....so we have 7% rally with about 13% more to go......
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hello Saleem and all,
Yet again, crazy market… Go figure... I am glad I stuck with STP, but I kept it out of stubbornness not because I knew this was coming… Bought CCJ at $14.21. Would love to ride it again till $18.
DRYS back at the level I bought it few days ago... The problem is I sold it yesterday at a $1.5 loss... Oh well, lose some, win some.
I agree with you, time to get defensive. I guess we are not the only ones grabbing quick profits.
Cheers
Hi Frogvest,
We are all getting WISER each day with this market.....
Hopefully...we all know "when to sell"
Good luck with CCJ & STP.....
Saleem
HELLO all
TH open is looking awful
Hoping for green
Hi all
sold JPM in premarket at 36.57,still holdig IBN.Took loss in RIMM, does not looks good. Sold FWLT with plus.Good luck to all.I think will go down with one spike ,may be 200 plus.I am sellig i rally.thanxs
Hi Madmax & Ds,
Market is building a FIRM bottom..with jittery trading in the process.....
Do whatever makes you feel comfortable.....but trade you must or else you miss a HUGE spike like yesterday.
Saleem
Hi all
sold everything and bought SOL. WAiting to buy back IBN, JPM. good luck
Post a Comment