Friday, August 10, 2007
Wild ride today. Technically it looks like a double bottom on S&P . Near term low for S&P and Nasdaq. Brought some ONEQ, AMZN and ISRG in the morning weakness and sold SDS. Will have to see the market holds todays lows.If not will dump my positions. Took advantage of relatively low risk entry level.
I think the market will try to rally from here. But it will not be the one we had from March 07 and this one will be a short lived one and we may go sideways for a while because of liquidity issue. Nasdaq stocks (Technology) will be the least affected ones by the sub prime related issues.As always look for good stocks which can go up as its own in sideways market