Stock Market Analysis – 09-03-2010
September 3, 2010 at 7:07 pm · Filed Under Broader Market
What a way to close the week. After a dreary Monday and Tuesday, the market bounced back strong. Heading into a holiday weekend makes the volume deceptive though. Is this just a sucker rally with no volume, or is everyone just out early for their last official summer weekend?
I am in a surprising number of bullish positions now, but will cut them off at the first sign of weakness. Even if the market runs, I will probably either take profits or put on a bunch of bearish hedges if we get to the $1120 area. That would effectively kill any profits from the $1120 to $1140 area if the market continues upwards, but I just don’t see true strength yet.
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