Tuesday, July 31, 2012

Waiting for the bullish 5th

Not much to add today as the market traded in a narrow range most of the day. I think the market has corrected enough in time and many of the oscillators that were short term overbought couple of days ago are now neutral. So the market just needs an excuse to rally from here and put in the 5th wave. I am assuming the Feds will not announce Q3 but will give a signal that they are ready to act if the economy shows signs of a further slowdown. That in itself should serve as an excuse.. we'll see.

Long Term Portfolio: 100% Long
Short Term Trading Strategy: Shorting intraday extremes, closing same day

No comments:

Post a Comment