A few thoughts...
-The fed cut didn't seem to matter very much to stocks. The spike after the announcement was an excellent time to get short for a trade. That action was clearly not sustainable. The market was already up so much before the decision and the news was not exactly earth shattering. In fact, it was pretty much exactly what the market expected. Hence, there was no reason for the extra spike higher, creating a terrific shorting opportunity.
-Financials made a lower high last week that I was surprised that no one really pointed out. It was an excellent buying point. They have since led all other sectors (with the exception of tech) during this rally.
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