Today the markets opened much unlike any other day. Once again we where hit with a spike in volatility as the vix bounced off the 20 handle and volume once again shriveled up on the down move. Heading into the end of the day I ask myself the same question I always do. Where do we go from here?
Goog declined nicely as I thought it should and Bidu found support on the 500 dollar mark and has started to elevate into the close. Talking light of my last post I would have to say that it may be time to cut loose that goog put and if you have the balls add to that bidu call. Why on earth would one do that....
Looking at the daily chart I can see how one would be discouraged into going long. But a down market is the perfect time to buy when you consider our current technical situation. In my opinion I would pay close attention to todays close. I think we have a good chance of making A huge upside leap in the broad markets and that could be pretty lifting for certain belweithers on the major indices...
Stay tuned all my trading buddies I will post some charts for conformation and should you also have a stand on the recent price action or would like to share anything that caught your eye feel free to leave a reply in the comment section....
Trade well Trade smart Trade Own.....
-0d39r33zk
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