Today's tape was not bad considering Fed came in with downward adjustment to the economic picture....
As markets are elevated so there is quick reaction to any negative adjustment about economic picture...
Trading this market is extremely "critical" as we move forward.....some sectors are extremely overbought....Solar,Ag,Financials comes to mind immediately.....some leading techs are looking "tired".....
One needs to do serious homework to monitor RSI & TAPE on an hourly basis......as per www.stockcharts.com
70 RSI is a serious resistance.....
OIL,GOLD,Shipping, Commodities are safer as we meander through May & June.....
It IS a stock pickers market...so need to follow FA/TA/TAPE daily to rotate out & rotate IN.....
So..... KNOW your stocks with a trading perspective...IF you are a trader........
Futures are all small RED.....
Nikkei is Down 113.....
Please recognize that "easy money has been made"......
Diversification in neutral to oversold stocks "is the way to go"
PS....EGLE has Annual General Meeting @ 10AM Thursday....
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi All,
Hope for good news from EGLE.
Gas in Atlanta is moving up.
$2.50 premium, $2.29 regular
Best Regards
Hi Standards,
Gas is going through roof in Canada....
It is 98 cents per litre Regular which is $3.70 US gln...
For premium which I use goes for $4.12 US Gln.....
We are expecting another increase in Gas prices as of midnight....
Hopefully EGLE will say something to soothe entire sector.
Saleem
Hi All,
Interesting observation by IBD.
V forming handle after long base.
Find article in Yahoo finance.
Maybe a break out coming soon.
Best Regards
Hi Saleem,
So so sorry for the gas situation up there in Canada. That along with the high home heating gas rate will cripple the economy by starving the people.
With China and India coming online with automobile ownership, the situation will get worse over time.
US Government preparing massive new legislation to address energy usage. Unfortunately they are thinking out of their own pockets and not the average citizen. If the average citizen does not upgrade their homes to the new codes, they will be considered criminals and fined. EPA given new powers to punish anyone. It used to be just our cars, now its our homes. Enough said.
Best Regards
Post a Comment