Stock Market Analysis – 10-13-2008
October 13, 2008 at 10:35 pm · Filed Under Broader Market
We knew a bounce was coming, but who would have guessed it would be this much in one day? It’s hard to gauge the volume since today was a holiday, but don’t expect this to be anything more than a dead cat bounce. Be patient and there will be lots of short opportunities arising again in the near future. Look for the typical lower risk opportunity when your target’s price threatens to fill the gap of the huge initial drop, $110 on the chart above for the SPY. Of course sitting on the sidelines is still not a bad idea too, since just breaking even this year would probably put you ahead of 90% of the general population.
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