Markets made another doji day today but we gotta respect that $compx/qqqq were able to make another high though on light volume. Even though market had lagged some ferocity in upmove but individual names especially small caps rocked again today and I was able to take part in some of them and had a good day. I had mentioned that yesterday we had big volume up movement and I was interpreting yesterdays action as a pullback which suggested that we may rally today and we did rally.
Short term price action is bullish as of now but bulls are not as strong as they used to be and internals are weakening but nothing to suggest its time to go short. Its probably a good time to reduce longs, reduce size and tightern the stops.
Sector wise materials/oil commodities rallied while Reits/Retailers lagged.
Follow me on twitter for real time trade updates.
www.twitter.com/sidshar
About Me
- Sid
- A techy at heart who tries to keep in sync with ever changing technical and business world. A producer, architect, developer, leader, all rounder, like to do what I really love- Technology
No comments:
Post a Comment