We finally had a little dip, which was triggered by slightly soft consumer sentiment numbers, but we are finding some support fairly fast. I think it will take several of these dips before one finally catches a little downside momentum. We just have too many folks looking for long trades for any big downside move…
TJ's Take » A Global and Urban Flaneur
Tag Archives: MarketI am seeing early signs of consolidation, oversold on the oscillators, I think if the S&P can hold 945 then it’s a good area to begin to leg into more company’s going long. however, if it doesn’t hold, then lookout below and look for better entry’s. I am skeptical on Q3 earnings for many firms…. Don’t expect much for today, sold out of TYP Calls (3x BEAR on the NAZZ). Started my shorting of BAC (bank of america), look for it to get beat down until mid-week next week then expect to cover. Don’t be short by mid-next week as covering will happen at the same time as an across… |
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