Markets rallied one more day today and have become extremely overbought by all measures but is showing no signs of giving up. Internals on this move are strong and any pullback should be shallow and could be opportunity to buy. Sector wise homebuilders and financials led the upside while oil/materials were red. Markets look a little tired and all sectors are not participating in this move.
To me it looks like momentum is waning and markets are driving up because of inertia and sooner or later we will get a pause.
Longs are to be taken with extreme caution and tight stops here and no, its not a time to short unless for a quick day trade etc.
Personally I had another good day in CBG and RAD as well PDLI and ABAT continued working from last week.
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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
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