Author: World Worst Stock Picker
Website: http://worldworststockpicker.com/2008/10/16/watching-the-mar…
Today there is a fight between the bulls and the bears with no clear winner so far in the session. The 7% collapse of yesterday could actually seem bad, however, the volume was very low in comparison to the lows set by the market on October 10th. I was tempted to buy today but I decided to wait one more day.
Depending on how the market does today I will move some of the cash in my 401 k into equities tomorrow. Maybe a third or half of the position. The risk to reward ratio seems too high. Gold and oil and down today. I am still bullish in gold but not on oil. The government confirms that we are in a recession. Thank you government for letting us know…
What if I am wrong? I will bailout into cash again if the market closes below the lows of Friday on a closing basis. I will add to the position when the market dips to support. However, the market needs to be prove that the lows of Friday can hold. Volume is running higher today. If we close up 2% in one of the major indexes it will… (Read the rest of this article at the following article source link for the full story)
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