Wednesday, September 23, 2009

Are the Bears coming back to town?

The volatility after the FOMC minutes were released was high as expected. Right after the report the dow rocketed up and was sitting at +80 but by the end of the day the bears took control and we were down 80 at the close. We came within 2 cents of getting filled in SCS before it went the other way and tanked so sometimes not being in a trade is a good thing. Now the question is "is this just a pullback and the bulls are gonna jump right back on the train or are we in store for a longer term correction?" Nobody knows but time will tell....stay tuned.

No comments: