Be careful, the expected bounce today is providing a lot of positive trading in stocks but many stocks are not moving much from where they opened or are trading below where they opened albeit they are still trading positive. Short positions that have been showing bullish signals and are confirming today should be covered, but expect a couple days of choppiness in the markets before any major trend, either bullish or bearish will continue from here. Any trades placed over the next couple trading days should be done so with the idea that if things turn the opposite direction, go back to cash quickly.
October 12th Daily Market Comments
Be careful, the expected bounce today is providing a lot of positive trading in stocks but many stocks are not moving much from where they opened or are trading below where they opened albeit they are still trading positive. Short positions that have been showing bullish signals and are confirming today should be covered, but expect a couple days of choppiness in the markets before any major trend, either bullish or bearish will continue from here. Any trades placed over the next couple trading days should be done so with the idea that if things turn the opposite direction, go back to cash quickly.