The rumour has been bought, now ppl are selling on the news. This market is so erratic and it will continue to be. Good news spark selloffs and bad news trigger rallies.
Today housing data is surely good. However, investors are concerned that this was mainly due to the extension of the homebuyer’s tax credit, and they have already known this rumour and now they are selling it.
Also, the reason for this massive sell off after the DOW rose 100 points could be due to technical reason. We have reached a major resistance. A peak that we have not seen for 6 months! Nevertheless, arm urself with some buying power should the market correct. We will be buying on a 5% to 10% sale.
6 comments:
buy BAC 5000 @11.13 scared investors get slaughtered. I will sell this @ 11.72. I earned already w/ a stop loss.
Also buy MGM 5000 @ 10.93 and sell this at the closing bell to short LVS soon.
I already done shorting LENNAR now I buy 5000 @ 14.14 and sell this morning @ 15.10.
Sold INTC @ 19.97. waiting for the pullback.
Let's get back to the retail(clothing industries). I think this is a good buy for thanksgiving and christmas day. Looking for entry point @ DISney.
not a good indicator of BAC but I try my luck. This is like BP to scared investors.
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