Thursday 24 May 2012

Dow drops 130 points at 2am in the morning, could not complete 3 up days yet

Dear Friends,

Today Dow ended lower amid European problems again. It could not complete a 3 consecutive up days which would probably bring confidence back into the market. Dow was dragged down by European market, where FTSE 100 ended lower by 137 points, a 2.53% drop.

It was reported that "European Union leaders will gather for an informal summit Wednesday night in Brussels to discuss jobs and growth plans."

Hence I guessed 2moro there will be some reports as to how the discussion goes.

With the uncertainty still surrounding Europe, my suggestion is to be patient and wait for next month's Economical Reports, which will happen next Friday where both Non farm payroll and ISM will be released on Friday together!

This day will decide whether June will continue its drop or whether the market will rebound. If both are better than expectations, there might be a turn in fortune! Let us hang in there and be patient. Let us not be hasty in entering any long positions yet unless situation turns.

Btw, if you want to go long, I suggest go in to day trade only. Holding position overnight involves Risk, in this recent volatile market conditions.


(3:24am update)
Dow now stage a powerful comeback and is 50 points in the Red now! What a comeback following Europe terrible close. It is the Darn Europe again. US seems to be in a stronger position. Sigh, I hate holding position overnight, as Europe will be down causing US market to open lower. Better to learn how to Day trade now!

Btw day trading can also make you money using Options!

Today I opened another Apple position and having US$3450 unrealised profit already within 2 hours ... and it is still increasing! ;)

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