What an interesting Monday pre morning. I am long FTSE and Switzerland 30 just before the close on Friday at the panic selling bought both the indcies with a tight stop loss. Half of my FTSE position hit a stop when it fell down 170 points but still have the other half which had a deeper stop and a full Swiss 30 contract. Hoping to get a rebound. Long on RIO Tinto the mining stock and also bought some futures on Friday in stocks such as Aban, Educomp etc which might have the short covering first. I have invested the first 10-15% in this correction ending friday. Hoping for a bounce back and some of the points here are reassuring.
I am still not sure if the current down fall is over. We might go up some 200 odd points from here but there might be a further move down especially with the US regulatory agenda coming out in the market. So hope everyone is very careful. If the Dow closes above 10750 the next target will be 10970 and above that its a free up swing to 11250 will try to watch these support and Resistance point very carefully. Commodities especially the oil and copper look very very tempting.
Dow hit the 200 DMA on Friday with a perfect low of 10250 bang on 200DMA.
Infact all the world markets did almost touch the 200DMA so we might have a short term rebound. Long term or not we have to see.
I am still not sure if the current down fall is over. We might go up some 200 odd points from here but there might be a further move down especially with the US regulatory agenda coming out in the market. So hope everyone is very careful. If the Dow closes above 10750 the next target will be 10970 and above that its a free up swing to 11250 will try to watch these support and Resistance point very carefully. Commodities especially the oil and copper look very very tempting.
Dow hit the 200 DMA on Friday with a perfect low of 10250 bang on 200DMA.
Infact all the world markets did almost touch the 200DMA so we might have a short term rebound. Long term or not we have to see.
Contradictory .....
