Yes, I noticed the same I probably read the same post as you did. However, while I am more willing to agree to the bullish case for now, I am not convinced yet of the strength of the current upside move. There seem to be still too many negatives to declare the bear dead... i.e. Possible increase in the unemployed, energy costs, and the amount of debt which under a more serious slow down it could trigger a return of the bear. (if consumer begins to trim down consumption, or flat out start filing for bankruptcy, "en masse")
I think that the Fed, (for the moment), and the strength of the US Dollar are the key in all this uncertainty...
The Fed is determined to continue easing on rates in hopes that we will not fall into recession... Yes, at the risk of fueling inflation. This is a major plus for the bull case... Still, I am cautiously optimistic.
What I am trying to do is reduce the risk level in the transactions I make by a combination of reducing the size of the trades, and attempting to day-trade more, attempting to recognize a specific direction without leaving overnight positions as much as I can.
It seems to me that the DOW (for the time being) is considerably stronger than the NASDAQ.
See how the market opens on Monday and then if the market show us a direction then play it that way.
Good trading on Monday... |
