There were lots of activities on merges and acquisition, banks are also buying bad assets, good sign that confidence is coming back into the market. General market environment is favorable for bull rally. However the market sold off at first, due to advances from the last few days. Obama's 300 billion tax cut was the main focus. Market rally stopped at 933 area, and only one attempt to break that level, but failed, then it sold off to intraday lows. At the end of day, Obama warned the severity of the economy and potential unemployment on Friday, spooke the market for about 15 mins, and it recovered most of the lost.
It looks like the market will try to break the new highs again in the next few days. If that happens, the market will be in a new level for further advancement. Dallor had significant gain, euro isn't good enough to replace dallar, that was the conclusion. Treasury has been sold off, might be the begining of clapse. Corporates continue to do well, espesially for high yields, again, a sign of confidence.
Don't follow the crowed, and if stock market movement is hesitating, that means not good, and get out.
No comments:
Post a Comment