Bulls are taking the market higher despite poor Chinese PMI.
Investors are seeing this as a base, they are betting that the government would not tighten the monetary policy too much. Furthermore, the string of healthy earnings is helping to push indexes higher.
I am still wary of a correction. Bulls are overbullish on the market now. Staying away from long positions now. Selling Calls for some premiums while the market is still so high. I think the DOW would correct to 10200.
No comments:
Post a Comment