Markets have enjoyed three days of nice rally.....
We ARE in overbought situation...so need time to digest this gain.....
RSI has moved up in Dow to 46.79 from 26.91 on a 1 year chart.....too far too fast???
It is a good idea to lock-in profit & move into laggards.....I practise what I preach.....
Many stocks moved UP nicely after forming a solid base ..so a pullback to support area MAY be in order.....
Many pundits will try to tell All of us ...what kind of rally it IS......i say "rally is a rally" no need to define it with fear based definition.....this HAS been a horrific bear market & they do end gradually.....
Markets are trying to look ahead to better day's in economy and NEVER goes UP in straight line...
VIX closed @ 41.18.....hopefully it will go below 40 & stay there.....
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hurray --SALEEM
Goo d call on your blog
Keep up the enthusiasm
thanks
Hi Madmax,
IBD is saying tonight that markets are in "confirmed rally"...everytime they say that..i get ready to be defensive.
This is a gradual improvemnt scenario.....
Saleem
Hi All,
Things are going to turn around quickly. The rule changes are a major event. Changing mark to market will put billions of assets on the banks books, everything will look better on paper. No more having to mark down good loans with bad ones. GE should be great with new rules!
Best Regards
Hi Standards,
It will be a slow build from here..
Economy is in the last 10% negative slump stage.....
GE will work out great... if you have 2 year time frame.
Saleem
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