Tomorrow’s consumer confidence will determine whether we have reached a bottom here.
Market is deeply oversold, any new positive news would provide a short squeeze opportunity, and this is sustainable with more positive economic news.
The sell off in the market is due to fears that there would be another credit crunch. This is because libor rates have been going upwards. The bailout of Cajasur was today’s reason to fear. The european governments need to fix their sovereign debt issue to calm this market.
3 comments:
Market today is like a casino and your analysis is not working anymore dude.
Just buy in the morning and sell in the afternoon. Then short the market 1 hour before the market closed.
Yup, you are right. The charts and analysis dun work in this fear market.
It's all about fear, greed, and panic.
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