It seems my last night's market close remarks are making sense so far. Hope the market can hold the gains, and continue to go up tomorrow.
Euro continues climbing up.
PPCO still poised for a breakout of 2.30. It seems some resistance at 2.25.
EXEL gets into the consolidation after a nice gap up. Very huge volume today. The correction may continue for a while.
QID still need to hold 35, and FAZ need to hold 5.
GM's chart looks very ugly. It could break down $1 based on the chart.
Our friend Ben mentioned TBT. Personally, I don't think the bond bubble will burst this year, especially if the economy continue sucks and the recession continues. As mentioned before, commercial real estate is a bomb for the stock market and the overall economy and may drag down the banks and financial again. better watch and learn ..
The market entered into a very interesting period, I think. More are coming tonight.
Have a good trading day.
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My wild guess is the following:
ReplyDelete1. Residence real estate dragged down the market -2008
2. Commercial real estate dragged down the market again -later 2009 or 2010
3. Bond collapses as stock market bottomed again in around 2011 -2012.
Tiger
yes. GM is really ugly now.
ReplyDeletelooks like PPCO can not jump over the 2.25 resistance today.
TA