I think we'll get over 1000 in S&P in few days. Bulls will try to close above that but the number that I'm looking at is 1020. We may see another correction after we get to 1020. I'll start taking some profits as we get past 1000. Let someone else have the last 2% and be the bagholder.
Even if we go past 1020, the market will correct and re-test 1020 which will provide you with another opportunity to go long. I think we'll see a lot of selling at 1020 that will take us down to 920-940 and resume this trend upwards. If you bought stocks on margin, it is a good time to reduce your positions and get out of the margin.
I am out of everything.
Subscribe to:
Post Comments (Atom)
1 comment:
it is just amazing how market has been able to bounce back after repeated sharp pullbacks...i hope this continues, at least move sideways for sometime...do not want to see DOW 7000s again :)
are you guys playing any commodities?
Post a Comment