Thursday, July 1, 2010

Expect a Big Move Tomorrow

I expect a big move tomorrow in the markets. But I'm not sure what it will be. Obviously we are oversold. But we are also in a crash type set-up I think in that we have broken support and we should have rallied a few days ago already. With debt related problems surfacing more and more, I would expect moves into the weekend to be volatile as people either pile in or rush out ahead of the weekend.

I don't blame anyone for exiting the SPXU trade now. But I will hold, and then acutually consider adding another bearish trade on a rebound if one comes into next week.

Also, UNG has retested the breakout from a rectangle trading range, and now would be a time to buy or add for those who want to do so sensibly. If there are questions on stop areas or indicators, then ask in the comments area.

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