Today's market action didn't put me back in a trade with either BAC or C and I'm wondering if I'll be able to get back in before the trend takes off. There has been a two week sell-off so far and now that the holiday cheer is here, we may be gearing up for a beautiful rally. The moment I've been waiting for has occurred. Nikkei finally broke above 10,000 this week and I forgot to blah about it. I'm not sure how convincing the move is and whether it'll be sustained. But I'm starting to realise that when a rare move like this occurs, it must be a real move. Nikkei doesn't seem to move very quickly, which means that if it's able to hold the 10,000 level, this would bode well for overall market confidence. This would be about the fifth test of 10,000 on Nikkei since Lehman.
If we see Nikkei at 10,000 and Shanghai above 3,000 again, that'll really be something, wouldn't it?
Did Bernanke actually talk because it doesn't seem the market reacted very strongly to his commentary? I checked Extended Hours price action for a few financial sector stocks and notice that most of them are up at least slightly.
I'm going to wait a few more days to see if I can buy either BAC or C at my target levels. If there's no major move, I plan on doing a quick That Time of The Month Options-Based Play. Yes! It's near the end of the month and you all know what that means - market volatility...
Nothing major on the report card...
+0.12% on the SBA
-0.52% on the Roth IRA
No comments:
Post a Comment