Monday, October 29, 2007

First Quiet Day

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The new week started on the small average daily volume. It could be a sign that high volatility days are over. Today was the first session when the NASDAQ 100, S&P 500 and DJI indexes moved in the same direction and with similar dynamic.

I would expect to see indexes higher over the mid-term – at least my indicators points to hat. Of course the NASDAQ 100 is still bearish on some indicators and there still could be corrections to the down-side and I would expect the NASDAQ 100 would be a power source for this corrections. It maybe will take a few sessions until we completely be able to disregard thus bearishness.

Any way, I’m bullish and I would try using corrections downside to buy call options or sell short puts (uncovered options).

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