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Friday, February 20, 2009

Wow what a market

The Dow went below its November lows but the SP500 and Nasdaq did not it seems.
I was looking for a short rally earlier but this market went straight down.
Notice how Nasdaq did not tumble, AAPL AMZN etc remained above their lows.
The markets have turned around and I would not short anything here. I would wait for anything except trades on the buy side.
Gold touched $1000, lets see if it keeps chugging higher or takes a breather. There are some smart people saying Gold will go lower . Lets see.
AAPL , if it closes above it 50 dma , will be a great trade.
I am looking at Oil but not doing anything yet.

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