Well kicking myself for being cautious yesterday. Waited for 10:30, watched as people faded and got trampled on, then as the rise continued figured out I had missed the boat. Live and learn.
Lesson for the day: BIG GREEN = BIG LONG XJO BIG RED = BIG SHORT XJO
Anyway today I am totally direction less.
Short: Possible With Interest Rates Fade: As above with a bit of on open bargain hunting Bounce: Could happen: Never underestimate this market Long: Could happen: Never underestimate this market
Sit Tight: Was a bad call yesterday - perhaps not today.
Interest rates will cause caution across the board.
XJO trend is still downward.
Financials: Interesting I think I am seeing a technical bottom on the big banks. MACD, RSI and Stochastic are starting to look like they have bottomed or are close to it. The banks have been out of favor for a while, so it could be their turn.
