Although the indexes showed some strength after the open yesterday, they are still trading below the T-line. The markets look like they’re in a basing action but nothing yet to tell you the Bulls have taken control. Maintain the short positions but be prepared to lighten up if there is bullish evidence in the markets before the end of the day. Obviously the markets are still in a indecisive mode. Have both long and short positions in the portfolio.
October 24th Daily Market Comments
Although the indexes showed some strength after the open yesterday, they are still trading below the T-line. The markets look like they’re in a basing action but nothing yet to tell you the Bulls have taken control. Maintain the short positions but be prepared to lighten up if there is bullish evidence in the markets before the end of the day. Obviously the markets are still in a indecisive mode. Have both long and short positions in the portfolio.