Friday, February 05, 2010

Market Talk

Bullish things we see:

- we wrote yesterday that we were looking for gold and copper to bottom first and lead the way up for commodities and this is happening today with both commodities green.

- we like the divergence here with tech acting strong (semis especially) as everything is not being sold in a basket

Bearish things we see:

- some of the ETFs we're looking for to buy on the 200 SMA are not there yet meaning that could act as a magnet for one more woosh down.

Mixed signals for us meant to take quick profits on the bounce here but still stay long half positions in order to be involved.