Monday, October 3, 2011

Now the Bounce

The market met the 1101 target I had few weeks ago and tomorrow we should start a bounce from these oversold conditions. There might be another low that will come in the 1060-1080 area so this is probably not done yet. I personally think the market is a bit too bearish and any resolution to the EU debt problem will spark a huge a rally.. but for now, it's all about getting the most out of this volatility. I went long on margin at 1117 and expect the market to at least meet the TA currently at 1146.

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