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Hi Guys,
I think that the factors that caused the recent decline in the market
may have been fully discounted now and I think it is a gamble but we
will probably see strength tomorrow. Coming up from today's lows I took
long positions in KM, FLR, SPLS, and I have a long in on CLE and MEL. I
did not take these trades based on the usual technicals in that I did
not wait for much in the way of price confirmation as I normally would.
Therefore my risk level is high. I also think that if the market loses
much more tomorrow we will not have support and the floodgates will
open, so I will get out of harm's way with tight stops.
What do you see happenning in the market now?
Best wishes,
James
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