It seems apparent that there will be no real price movement in stocks until after some news events this week as far as elections and the FOMC meeting. I really don't see the elections as much of a market moving event unless the Constitution party wins a majority in both houses and in addition Obama decides to step down after it occurs because he can't work with people who are sticklers on the Constitution.
But I could see the FOMC verbiage about QE 2 lead to a significant price reaction. My belief based on technical analysis and sentiment analysis is that the market is set to make a swift retracement of recent gains, and possibly resumption of a longer term "secular bear market." So even if the announcement sounds good, it may get sold at least short-term.
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Hey, looking at etf shorts oversold right now = market has been rising, we can correct anytime. For me though I like Bidu (not domestic play) waiting to add on dips as long company's growth still in place, any thoughts >appreciate it.
ReplyDeleteI don't have any particular thoughts on BIDU. Obviously it has been strong for a while, but depending on your time frame you may be chasing getting into it now.
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