Thursday, November 6, 2008

Tough Open

The picture represents all the buy and hold books that I've read. They will be posted for free later. Abbey Cohen will be putting hers up later, but I need for memory.

So far futures are down in response to lower global rates and currently the impact is nil. Australia and Japan have cut this week, but the impact so far is feeble to say the least. The retail numbers are dismal and I think RTH can ta 50-60 in the coming months. CSCO is weighing on the QQQQ's and tech in general. I'm looking for more heaviness in SMN and FXP today, but will be watching out for snapback rallies. Anything can happen in this market and as you know can reverse at anytime. Oil is tradin lower on demand concerns and Toyota slashes its forecast. I'm all about retests now, its just a matter of when.

2 comments:

E said...

Let me just say that the care you take in selecting photos such as the falling bookshelf always make it a pleasure to come back, stock picks aside haha.

upsidetrader said...

thanks i try

About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.