Thursday, 6 September 2012

Market is lifeless as all eyes on Draghi 2moro in ECB meeting at 8.30pm singapore time

Dear Friends,

2day in US is lifeless as market neither goes up nor down. Dow is down by just a few points now. There is hesitation to bet on either direction as market do not know what Draghi can come up with and will it be up to expectations?

Hence I also liquidated my silver position on SLV ETF. But I am getting ready to look at SLV again. Either there is a dissapointment or not, SLV is a good play. If the market thinks that Draghi did enough like what Ben did last Friday at Jackson Hole, look to buy some SLV. If not short it.

Probably 2moro ADP employment report and Jobless claims will reveal tips whether we can buy and hold stocks through the jobs reports on Friday. Let us also pay attention to that.

For me, any drop in the market these 2 days mark opportunities to accumulate some stocks holding short term.

On Friday, if jobs are bad, it is probably wise to buy into the down market as QE3 expectation will be rave in next week FOMC meeting on wednesday.

If jobs are good on Friday, go into the market also. All these trouble about the US economy will be put aside.

Rgds
Daniel
www.danielloh.com

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