Friday 10 June 2011

Mid-Sell Bounce not happing yet

I was expecting a minor up move till 1320-1330 in S&P, which would have given another good entry opportunity for taking a short position. But so far it is not happening yet. Next week is Option Expiration and thereafter I expect the whole month of June to be in a down trend.
I think the major down move has taken place and the downside is limited. May be up to 2220 in Nasdaq Sept. futures. Question is should we dip the toe in the water now.
I plan to go long around beginning of July for a possible summer rally. 

No comments:

Post a Comment