Thursday, May 8, 2008

Day Summary

The resistances which were broken last week are now acting as supports and markets are trying to hold these levels. Clearly Q's are the leader and tech is performing really well, I would expect to see some more sell off before things can be be bought but I have started nibbling and took some position in XLF today which I will add on to if it pulls back some more tomorrow. My stop is below 24. I may also buy some IYT, XLY if it gets to my entry tomorrow. Energy,Natgas and Crude crude keeps on working and gold is firming up a little so are ag commoditites.

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