Thursday, November 6, 2008

Market Comment Update on Nov 6, 2008

Markets sold off 10% in 2 days after trading up in rising wedge formation as alerted on election day, 11/4. Markets selling off on nobama elect is quite vengeful which I am astonished by the market manipulation even though I anticipated the selling.

Intradays and markets are obviously oversold taking out 10% in two days even after the recent selling with "Bailout" scheme. The highly risk markets will not go away anytime soon.

We have eco number tomorrow morning and with the market manipulation anything can happen as market sentiment is wildly swing from hope to despair. Hopefully, markets will find supports tomorrow. Good luck

No comments:

Post a Comment