I am just in the process of going long the banks before market close tonight
its against most principles of technical analysis their strong trends are down and the price levels are at the bottom of their trading bands ie. like catching a falling knife
on one TA criteria this would definitely come under the category of "oversold"
the reason is to do with the recent rise in US bond interest rates and anticipation of the markets that the feds view point on increase of future interest rates may be sooner rather than later ...... my thoughts are that yellen will continue her doveish policy and that bond rates will reverse back down a bit after her statement becomes news tomorrow ....... I don't hold out to be any expert in this area, so its more like a toss of the coin - then I think a lot of the experts are tossing coins also .... it is not the way to be investing ....
so why am I carrying on gamboling like this ???? I think its because its been going fairly well lately and I think that every thing that comes into my head is most likely to be a good idea.... I will have a ready finger on the sell button on open tomorrow - just in case..
