Update: The early morning gap up will be aggressively sold by the end of the day. That is what the system says. Notice how the "homecooked system" makes absolute predictions as against with many qualifiers. If you want to trade such things, select your instrument carefully. See track record of past such predictions here before you act on it.
You should not trade based on this predictions!
Rally does not have legs: The current rally has run its course and the risk on long side is high. You should not trade based on this predictions!
Software is still down: I have located the problem but it needs some tech support help which will happen only on weekends.
Earnings continue to be good: Lot of new entrant on my outstanding earnings list. Once the overall market direction clears we should see some nice rallies. Some earning plays are already on the move. They have the momentum to rise inspite of the market weakness.
Secular Sector trends: If you keep your eyes open and not get distracted by the "big picture" doom and gloom scenarios, you will notice start of some new secular sector trends. If you get on them early probable you might benefit from the "boom".
News does not matter: News, economic data releases, daily weekly sentiments are just noise. Long term impact of them is limited. Go back and see last 30 days. Do you remember a tin pot dictator, start of war, and several other news items which were supposed to impact market. If you are long term trader you can ignore such events unless it hits the cover.
1 comment:
Thanks
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