Markets were in red after 9 weeks of positive action......
Selling was contained as they were done on low volume...this is a great indicator for positive things to come.....
VIX closed @ 32.87...another indicator giving positive UP signal.....
Futures are mini Red..so far...AM could be a different story !!!!
In my portfolio :
Bought MPEL....
Portfolio is CTX,EGLE,MPEL,OTEX,PMCS,PALM.....
Technology were trying to start week TEN on positive grounds...BUT it went into small red @ close.....again showing relative strength....
Markets do NOT have the feel of overbought TAPE...thanks to many traders who are extremely negative for short term.....& have sold out ???
FEAR & CAUTION is very good for more UP move in the markets....immediately ahead $$$$
Negative sentiment plays a major role in contrary action.....I get worried & SELL when I see too much enthusiasm...which IS currently missing as EVERYBODY is waiting for a pullback......????
BLOG does NOT give buy or sell.
Saleem
3 comments:
SALEEM
Good Morning
THe TV is all about a huge sell off
what the heck is the story
My GE got hit but Monsanto is flying again. Citi is hurting as is GS
Oh well
God Bless
Hi Madmax,
27 points down in Dow does NOT qualify as huge selling???
Markets should be evaluated on a closing basis....unless you are a daytrader..then you need to position accordingly....
I am a swing trader & you are a long term holder....
So...we just go through the TAPE and see where it takes us....
Wall street story is the same..."market goes UP and market goes DOWN"...that will never change !!!
Saleem
Hi All,
Yeah that 50 point sell off gave me the willys!
Options week. Always some strange movements going into expiration on Friday.
Best Regards
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