Apr 21, 2005

Equities: Prices are Leading Sentiment

More and more I am feeling like the falling equity prices are becoming the reason to be negative on the market. Yesterdays reversal could have created a nice entry point so I would look to Friday's lows as a nearby stop.

Probably just a short-term bottom (3-6 weeks) but certainly good enough reason to cover shorts and try the long side.

*update 10:06 AM - Buying above the open and raising stops to 50% retracement of the gap.

No comments:

Post a Comment