The market hit a resistance today and stayed strongly underneath it. To confirm this next rally, we need to see a clear break of the resistance.
It has been a wild ride here, we can see that volatility has increased sharply. Investors are still pouring money into stock as they are afraid of inflation. With the talks about QE3, we can understand their fear.
I think it is time to invest in Chips again after the sector got burnt. Stocks like SNDK, MU are attractive.
Cool view from my school.
2 comments:
I tend to agree with you and would rather hope for the small pullback instead of rocketing straight ahead....plus I want to go do a little more shopping in the Japan market -- SNE, TM, CCJ -- all good stocks beaten down by irrational fear.
BTW Tradedragon you've been rather scarce and I sort of miss your blogs
Cheers
One last thing. I didn't get burnt but was rather disappointed with the 10::1 R/S with C. Nothing good will come of this announcement other than having burnt the retail investor. This stock will sit at the same price or thereabouts as a JPM,,,,no way it can hold there. I'm still holding BAC but keeping a cautious eye on them getting tempted to do the same - R/S that is.
Just some ramblings
Post a Comment