Thursday 28 February 2013

2 up days bring up Cheer, but I am still wary

Dear Friends,

2 wonderful up days wipe out all of the losses in the US market, but I am still having by reserve on this bullish sign. Looking at the market sentiment indicator, it does not show me a sign that things are changing. In fact, I am looking at a possibility of another sector that is in danger of turning bearish is the ALL IMPORTANT Technological sector. It is 0.36% from turning bearish.

And if tech sector really turns bearish, I am not going to give my vote of this bullish run anymore. One more triple digit fall might be what it takes to trigger it.

I am watching by the sidelines for now... until a clearer picture. Let us first see the ISM report this Frday. Just holding on to existing position but not opening again for now is my strategy for now.


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