After much arm bending and the scariness of last Mondays 700 point fall in the DOW, the US govt got their way!! (We knew they would) - the markets rallied ahead of the "expected" then fell on the news - the classic buy the rumour sell the news....
NOW WHAT?? Well...it doesn't REALLY solve anything fundamentally...the real problem is housing and falling prices...something everybody will just have to work through....however what does it mean for the markets?
MY own HO; we are close to a short term bottom..(1-2 weeks away)...then election fever will kick in, a bit of optimism following the initial negative reaction.
another few big down days will have me looking for longs in the markets..will post charts later
No comments:
Post a Comment