Friday, June 3, 2011

A Rally is coming

The market continued its sell off today and it looks like it's about to be done with this particular leg as it is getting oversold at this point. So I am inclined to think we will see a strong rally starting early next week and we will see if the market can finally resume a bullish posture by turning the trend bullish again. The market is concerned about economic growth and that has been the selling excuse. But just like we hit a "soft patch" last summer and the Feds intervened, any more perceived weakness is certain to bring more Quantitive Easing and therefore more upside. I am staying put with my long positions.

Have a great weekend.

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