Friday, August 17, 2007

wow, but will the rally hold?

I'm sort of thinking this is like the Greenspan put. Now, market players think the Fed wil be there to bail them out if things get too bad so risk aversion may go down a bit. Maybe things are not better but one fear has been removed from the market. I bought a bunch of stuff yesterday, now what to do with the inventory.
I'm more looking for an oversold bounce. We are getting that today. I don't think this is the all clear but it might be. I'm about %85 long right now. If we get a strong bounce today I will be looking to trim my exposure again. I look at HD, AB, phm a longer tern buys. QQQQ & WM are shorter term trades, but I can be stopped out of any position.
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