It does seems that the knock down in the market is over. With good jobs reports, DOW increases 200 plus points on friday. On thursday, we issued an article indicating it.
On Thursday we said that we are bullish about the US market and think that it can propel forward for the next few days. In fact, my optimism grows with the good friday employment reports!
I do think that October might not be so bad as what a lot think after all. With a bad start to October on the first, people thought that the market is in a panic. Today I read the Sunday Times article commenting on a potentially bad 4th quarter with the uncertainties in Syria regarding ISIS, the challenge of the interest rate rise and the problems of Hong Kong on Asia.
Perhaps the market may be a lot more resilient than what some think.
We don't think ISIS is a major issue. What is happening in Syria or ISIS has no effect at all on the US economy. Hong Kong protest issue will be over soon as this is a much too peaceful protest! There simply isn't a SPIRITUAL LEADER that is leading the protest. It won't come to any satisfying result for the youngsters. And they are already facing pressure from the Hong Kongers to call it off soon.
We are in fact banking in soon for a good Hang Seng technical rebound when this incident dies down.
Like what I said on Thursday, we are now longing the US market.
If everything goes well with the earnings in US starting soon this wednesday , which now I think should be quite ok, I think the US market might jolly well have a good October after all!