this market is starting to feel a lot like the time we had the asian crisis and the hedge funds failing, all gloom and doom, no reason to buy, and that makes it feel like we have to be close to a bottom, greenspan cant sit there and fiddle while the market burns, the japanese banks are a warning but i dont think they will start a domino effect, we will get through this soon, bottom is hard to spot when you hit it, but i feel like it will be sometime in the next 30 days at the latest, still hold hope for a green naz by the end of the day, but seems like a 100 points in this market is nothing,
play the swings
starting to build a longer term core holdings in ge,aig,gm,cei,msft,wcom,xlf
thats a basket that i think will perform pretty steady for the rest of the year, trading can still be good if you stay on the right side of the swings with tight stops, i would look for another reversal today around 2pm
heres hoping |
