Thursday, October 23, 2008
More Pressure
The markets are starting to feel the pressure and a retest on the dow should soon come. If we can hold 7880 and get a bounce we should be ok for a while. If we break 7880 however a mass of selling will come into the market and who knows where we will end up. Potash Corp had stellar earnings, crude oil is up, and currently the dow is up but for whatever reason no-one is interested just yet to buy (POT) Yesterday I did 2 trades in the forex...USD/JPY and USD/CHF netting about 20 pips. I also tried the e-mini dow and got my ass handed to me in about 30 seconds. Well, it wasn't that bad but I will wait for the VIX to drop below 30 before doing anything again.
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