As I was walking the dog in the park this evening, I overheard some market talk. One guy commented that he thought the selling was over, his friend responded oh no, I just heard on ROB (Report on Business television, Canada's slow motion version of CNBC) that futures were down big time on a bird flu epidemic scare. We'll soon see if this story has legs, but as far as I can tell from reading Briefing.com and listening to CNBC's On the Money, this story is already priced in and overpriced given the details of the close knit family relations of the victims involved.On the plus side, commodities and the energy sector, finally had a positive day. Even the SOX started off on a positive note and looked like it was starting to stabalize until the late day selloff took hold. Maybe this is a double bottom on the intraday charts and we move up from here.
3 comments:
Jamie, Could you point the double bottom out to me please? A few other people have said the same thing, and somehow I couldn't see it.
Also, do you trade options?
Thanks,
AJ
Hi AJ,
For the double bottom, see my last post for the evening.
I got burned once as a kid trading options and haven't traded them since. I'm strictly trading equities in my trading accounts.
Hi Jamie,
Yes, I see it now. Thanks for the chart.
Options don't seem to work for me too, but unlike you, I haven't learnt my lesson as yet.
Thanks,
AJ.
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