Thursday, June 7, 2012

Market Thought

The best day of the year did not just come out of nowhere. Single biggest reason for yesterday's rally was the fact that so many traders went flat last week and needed to get back in when SPX regained 200 dma and 1300. In few days leading up to yesterday's running of the bulls, all I heard was the question about how much lower equities could go. Not a single time have I heard a question about the bottom being reached. Rallies are built on the backs of doubters. I think there is more upside to come, especially if 1330 is taken out decisively.

No comments:

Post a Comment