The third time is not a charm! Big Ben and Company decided to go conservative and cut the Target Rate by 25bps to 4.25%. As you can tell the Market does not like the move.
We all need a game plan; mine will be sitting with my cash waiting on opportunities to pounce. This rally isn't dead, yet...however if selling continues with volume into the coming trading days our November lows may be revisted.
Market Speculator
5 Comments:
Go go SPY puts! I like the S&P below 1490 here. If we close below it the rest of the week, I'd step out on a limb and say we may enter a bear market. Well okay.. maybe not a bear market, but we'll retest the lows we saw this year I would think.
jorge,
all possible, I do think we see and pass the november lows.
Market made a lower high.
Question is, does it trade in a range, keeping under the downtrend line? Or does it go ahead and make a lower low?
Market will rebound today, but I dont see much upward movement. Sideways is more likely till reporting kicks in
Looks like some the big players used the past couple of days to reposition, which makes me think MarketSpeculator is on the mark.
I'm limiting my action to
scalping and day trades until the dust settles.
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