Wednesday, October 24, 2007

Nice trading

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Today was a good day - 15% on one trade only.

What is going to happened tomorrow – that is the question. Nobody could be sure, I only may expect…

Today we saw the S&P 500 and DJI retesting their October 22 lows with strong recovery after. It looks like the S&P 500 and DJI could be at the bottom of the correction and we may see the recovery soon. On the other hand the NASDAQ 100 failed to follow the market during the slide down that started on October 11. There comes conflict situation – while the S&P 500 and DJI indicators show oversold levels the same NASDAQ 100 indicators show overbought levels.

I spite the fact that the NASDAQ 100 failed to follow the S&P 500 over the past few weeks, I would expect to see the recovery rally more then continuation of the down-trend over the next week.

Regarding tomorrow – I would skip trading – too high volume on the NASDAQ 100 over the last 2 session.

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