The hope rally will fade soon because since last week, the stock market has jumped almost 1200 points. The news from Europe is still unclear and there is no plan on the table. After Europe it will US turn which will drive the market, when the talk about the debt deficit will go on.
The main reason why any plan will fail is small countries wont back up any plan of saving bigger country like Italy, and even bank will not take higher hair cut.
Sell EUR/USD,
BUY USD/CAD
The level to watch out right now on Dow is 11722, if it breaks then its time to sell.
On the S&P500 the level to watch is 1253, if it breaks then its time to sell.
Lot of earning data is coming out this week. Maximum stock can rally is till tomorrow. After that i see sell off.
The way to play with this market right now is "Keep CASH in hand" Don't invest.
But there is always opportunity in any type of market.
Market is going up: Buy DIA, SPY, TNA
Market is going down: Buy put on DIA, SPY, and calls on TZA, GLD, VXX, VIX
The main reason why any plan will fail is small countries wont back up any plan of saving bigger country like Italy, and even bank will not take higher hair cut.
Sell EUR/USD,
BUY USD/CAD
The level to watch out right now on Dow is 11722, if it breaks then its time to sell.
On the S&P500 the level to watch is 1253, if it breaks then its time to sell.
Lot of earning data is coming out this week. Maximum stock can rally is till tomorrow. After that i see sell off.
The way to play with this market right now is "Keep CASH in hand" Don't invest.
But there is always opportunity in any type of market.
Market is going up: Buy DIA, SPY, TNA
Market is going down: Buy put on DIA, SPY, and calls on TZA, GLD, VXX, VIX
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