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09/2009
27.04.2009
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Bulls are still strong
Hi,
Bulls are in charge and do not want to allow market to do any pullback
Although last Mondays drop was very significant and can signalize that bulls are little tired of 6 weeks rally.
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This drop should be warning sign for any new bulls. Current situation
is very choppy. I am in neutral mode as I do not see any clear signal
for possible future moves.
Macroeconomic values and also earning are not so weak as was expected and so investors are little excited.
But I think it does not means that we are entering new bull market or
that economy is already after turning point. Not yet. Decline is
slowing but it is still decline.
So investors should be very careful with new long entries.
I would like also describe some info I noticed during last two weeks.
Have you heard about scrap-old-car program in Germany ? Any
buyers who will scrap car older then 10years will receive discount
(paid from government) if he buys new car. And do you know what
is happening ? A lot of old cars from Africa (Morocco) is being
imported to Germany!
So Germany govt pays for liquidation of old cars from Africa !
This example shows that such program - now very common in Europe - is
something very bad. It had not to be arranged. But politics wanted to
push some money to citizens before election to make them
nice ! And recession is good reason to do it !
And therefore I do not think that Europe is in better shape then USA.
But I often hear from EU politicians that EU economy (and debts etc) is
in "good" situation and US economy (and debts etc) is in "bad"
situation.
I do not think that it is true.
Happy trading,
Richard
Extended hours trading
Trading outside of regular trading hours is possible but it is risky.
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Sector and ETF Watch List
Long
ETF watch list: BDH, FDN, FXI, BZF, UUP, .....
Short
ETF watch list: DIA, XBI, PPH, XLU .....
Inverse ETF (long position): RXD, SDP ...
UUP (USD Billish ETF ) sits on important support level
Stocks Watch List
Long trade/ Buy watch list: DRIV, NFLX, IBM, NETL, RHT, RVBD, ....
Short sell trade watch list: ABT, ENB, QGEN,MYGN, COCO, ......
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