Oil tagging $138 and futures are getting thumped a bit. It should be choppy today as investors try to set their footing for the Fed. We are very oversold but there is nothing odd about staying oversold or getting more oversold. If Ben can spin things tomorrow, I honestly don't know how he can, the market will bounce, if not we will probably test January lows by Friday imo.
Watching steel and oil long and financials short again. I won't be that aggressive today.
Tuesday, June 24, 2008
Tuesday Morning
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About Me
- upsidetrader
- 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.
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