02-02-2008, 12:16 PM
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Ronin
has no status.
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Re: Market Outlook
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Hello. Today we had the rate cut, which was in line with market expectations. Price spiked up, but came down and closed in the red. Looks to me like a very bearish sign. Many of the guests on CNBC, and Bloomberg (which I've been watching more recently) had predicted in recent days that the market is looking bearish for the long term and it will go lower than the 1/22 lows, rate cut or not. Typically, from what I have seen on rate cut days (though I've only studied the markets for some months only) price goes one way or another. Seeing price action today tells me that the market is not feeling confident.
I would like to know what you all think. What is your outlook? Would you go short here on the longer time frame, or wait for the 1/22 low to break before going short?
In my opinion, after seeing price action today, combined with hearing many analysts predict that market is going lower, I might go short tomorrow on a daily time frame trade. |
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Abe,
SELL the ES next week and get your money back, GUARANTEED
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