Tuesday, June 29, 2010

Market next move

I think the Market is going to make a move upwards from here. reasoning
1) Prior low and strong support
2) BB lower band
3) Copper started ticking up (no so much in consideration)
4) Today's down move is without any new news. I believe the current bad news are already priced in
I put in some money to work on the long side as the risk/reward ratio for entry is very low.

Also noting that it can go down from here if it breaks the support line. If that happens the strategy is to get out totally from the market and wait for the next entry point. Up or down.

No comments: