Eur/Usd has weaken again. http://data.cnbc.com/quotes/EUR%3dX/tab/2
Stocks I am watching are TIF, AMR,MAGS, STX and TZA
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After huge rally today, I am still optimistic that the rally will continue as long as there is strength in Eur/Usd. As said in earlier article, I am expecting upside rally of 800 point http://www.freefdawatchlist.com/2011/11/something-to-learn-from-todays-trading.html
The good thing about today rally was US banks and Eur/Usd didn't participate in todays rally, which has left further room for more rally in coming days. Eur/Usd fell from 1.33820 to 1.33008 at the close. Also, volatility index (Vix) is still at 32. Inspite of this, Dow was up by 291 points. Banks didnt participate in rally as there is still risk of S&P downgrading banks.
Also very important thing to notice is French banks were up by 12%. Shorting bank in France is banned. So this was a bargain hunting rally which is bullish sign.
IF there is any good news from the European finance minister meeting tomorrow, outlining detail about EFSF or about Greece bailout, it will be very bullish sign. Since VIX is still at 32, which means lots of people are still short, and if they have to cover then it will lead to another big rally of 200-350 easily.
Lots of US economy data is coming out.
7.45 EST ISC Goldman store sales and 8.55 EST Redbook store sale data, (It is very bullish sign as both will beat estimate)
S&P case chiller (9 EST) 0% is bullish sign, while -0.1% is bearish sign.
Consumer confidence (10 EST), 45 or higher is bullish sign, while 45 or lower is bearish sign.
Remember there is no harm in taking out profit and keep cash in hand. 3% gain is better then 10% loss.
I am expecting the stocks to open high with small pull back of profit taking followed by another rally.
Keep this stocks in mind for tomorrow.
http://www.freefdawatchlist.com/2011/11/technical-level-hal-amzn-aapl-tna-bac.html
Stocks I am watching are TIF, AMR,MAGS, STX and TZA
***************************************************************************
After huge rally today, I am still optimistic that the rally will continue as long as there is strength in Eur/Usd. As said in earlier article, I am expecting upside rally of 800 point http://www.freefdawatchlist.com/2011/11/something-to-learn-from-todays-trading.html
The good thing about today rally was US banks and Eur/Usd didn't participate in todays rally, which has left further room for more rally in coming days. Eur/Usd fell from 1.33820 to 1.33008 at the close. Also, volatility index (Vix) is still at 32. Inspite of this, Dow was up by 291 points. Banks didnt participate in rally as there is still risk of S&P downgrading banks.
Also very important thing to notice is French banks were up by 12%. Shorting bank in France is banned. So this was a bargain hunting rally which is bullish sign.
IF there is any good news from the European finance minister meeting tomorrow, outlining detail about EFSF or about Greece bailout, it will be very bullish sign. Since VIX is still at 32, which means lots of people are still short, and if they have to cover then it will lead to another big rally of 200-350 easily.
Lots of US economy data is coming out.
7.45 EST ISC Goldman store sales and 8.55 EST Redbook store sale data, (It is very bullish sign as both will beat estimate)
S&P case chiller (9 EST) 0% is bullish sign, while -0.1% is bearish sign.
Consumer confidence (10 EST), 45 or higher is bullish sign, while 45 or lower is bearish sign.
Remember there is no harm in taking out profit and keep cash in hand. 3% gain is better then 10% loss.
I am expecting the stocks to open high with small pull back of profit taking followed by another rally.
Keep this stocks in mind for tomorrow.
http://www.freefdawatchlist.com/2011/11/technical-level-hal-amzn-aapl-tna-bac.html
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