We had mini rally today because of jobless claim falling below 400k, Greece announced new PM, Italy Prime Minister will resign on Nov 13th, and in last hour of trading US senate passed 2 Job bills. Since news and rumors are coming every minute, so always keep cash in hand to take advantage of any market.
I find rumor about Italy Prime minister resigning by Nov 13th absurd. Even though the stock market rallied up and likely to continues so, but the bond market is real indicator of whats going on.
Tomorrow Consumer sentiment is expected to be announced at 9.55 am EST. A reading of 61.5 is bullish sign and a reading less then 60 is bearish sign.
Italian bond yield is still near the danger level of $7, currently its at 6.89
http://www.bloomberg.com/apps/quote?ticker=GBTPGR10:IND
If it rises above 7, then stocks will start selling off again.
Today AAPL and GOOG sold off as expected in the morning. Remember the key level on AAPL is 375 and GOOG is 575 to confirm bearish sign.
DJI broke 11900 level but it could not break 11716 level. If it breaks then next level to watch is 11630 followed by 11550.
On S&P500, S&P500 has broken 1240 level but it could not break 1219 level. If it breaks then the key level is 1200 followed by 1190.
Keep this level in mind before investing.
I think today was a good opportunity to buy VXX and TZA.
Other stocks to watch out are
GMCR fell 40% today, i think for short term, it can pull back to $55.
ALU has fallen to $1.99, long term, it can double your money.
XIDE at 2.90, CEDC at 2.93 looks attractive.
"REMEMBER don't invest in any individual stocks till Nov 23rd, make your watchlist and invest smartly"
I find rumor about Italy Prime minister resigning by Nov 13th absurd. Even though the stock market rallied up and likely to continues so, but the bond market is real indicator of whats going on.
Tomorrow Consumer sentiment is expected to be announced at 9.55 am EST. A reading of 61.5 is bullish sign and a reading less then 60 is bearish sign.
Italian bond yield is still near the danger level of $7, currently its at 6.89
http://www.bloomberg.com/apps/quote?ticker=GBTPGR10:IND
If it rises above 7, then stocks will start selling off again.
Today AAPL and GOOG sold off as expected in the morning. Remember the key level on AAPL is 375 and GOOG is 575 to confirm bearish sign.
DJI broke 11900 level but it could not break 11716 level. If it breaks then next level to watch is 11630 followed by 11550.
On S&P500, S&P500 has broken 1240 level but it could not break 1219 level. If it breaks then the key level is 1200 followed by 1190.
Keep this level in mind before investing.
I think today was a good opportunity to buy VXX and TZA.
Other stocks to watch out are
GMCR fell 40% today, i think for short term, it can pull back to $55.
ALU has fallen to $1.99, long term, it can double your money.
XIDE at 2.90, CEDC at 2.93 looks attractive.
"REMEMBER don't invest in any individual stocks till Nov 23rd, make your watchlist and invest smartly"
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