Wednesday, July 27, 2011

The Whoosh Down

It's amazing how fast the market has come back down to close in on the bottom of the trading range. Just a couple of days ago, the NDX was above the trading range!

Folks are blaming the debt ceiling stuff. But there always seems to be a reason to be bearish at the bottom of the trading range, and bullish at the top of the trading range. Quite a few trading opportunities along the way.

I remain in the same position, with cash and low beta stuff. Oh, and oil.

I'm wondering what will really happen with a debt ceiling deal. I was thinking "sell the news" when the market was near the top of the range. Now I'm wondering if we'll rally! It seems as folks believe that the debt ceiling issue is causing the market to pause or fall, and once it is resolved it will be off to the races. I don't know. That seems easy.

Too busy this week to do much trading or reading around.

Also have a new puppy... LOL. So, that's a lot of work at night!!!

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