Today’s action is actually pretty bullish. It shows that no one is selling shares, rather shorters have come in to speculate a market crash, however, the shorters might be back again after the state of the union. For now, I will not trade, I will just hold the remaining cash I have got and see whether a market correction is likely.
4 comments:
I think BAC is ready for a bounce here if I'm reading the retracement chart right. Retrace at 38% and a bounce up. JMHO
Blkbird , what is yor target price of bac? in your opinion, thanks
Swing trade --> 14.52
Short term --> 15.90
Looks like it may roll back to 13.20 (50% retrace) first though as we didn't hold today
JMHO
thanks, I hope that does not shrink much!!
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