Monday, January 26, 2009

No bias

The last 2 days of the past trading week showed once again how important it is to be flexible and not be attached to any bias to any side. Market got hit by bad earnings news on both days but fighted back in an impressive way and if we can get any kind of follow through action on the bull side early in this week we could get a rally for some weeks or so. However, at this point it could easily go the other way and flexibility is key. Earnings season continues and CAT just announced some bad figures, however futures point to a flat open. In terms of possible candidates for long trades I still watch AAPL for a break of 90 and CLR above 22. Gold and Oil stocks seem to be on the move and are worth watching (HES,ABX,AEM,GOLD). Hope everyone is having a good start in the new trading week.

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