Sunday, April 3, 2011
TIme for some correction?
Two weeks ago, I felt the Simsci was a good level to buy at above 3460. Any more room for it to go further? Are the foreign funds back pushing the Index to close at a 2 weeks high? With the looming election approaching, can we short the market?
I will still buy on retracement.
My friend called on Wednesday to short the Nikkei above 9800, he felt that there should be some window dressing in Japan and the market whould correct down again in the next few days. Let's see.
My short term trading strategy will be to buy 2 Simsci and sell 1 Nikkei.
Some reistance for the S&P at 1334 level.
It has been a good week for traders because of the increase volatility, for those who missed it, just too bad, wait for the next opportunity.