understanding the psychology of behavior

Nice move today in the Market. I have been in a meeting prior to the spike up, so I do not know what caused it. (The GDP and Job #s did not cause it, maybe it was the dollar rally.)

I have eased up on trades, especially for NYX.  The market looks to have some fuel to go higher, but my resistance levels are being met. (I will probably get out of the name with this move… too many negative implications currently surrounding the exchanges.)

Look to sell GS if low/mid 180 is achieved. (SMA resistance)

The 10yr has sold off too much, and is due for a bounce.  This may affect the market causing the market to come down some.

And why the hell is the RTH rallying? I will look to short it with 100 July Puts.

PWR acting strong. May see 32.

AGO… i think they are being kepted in a range until things settle more or they prove themselves during the next Q.

NLY… ease up on them as the Fed is chattering rate hikes, but I still like it for now.

Trade Cautiously… (as for me I’m off to another multi-hour meeting !!!!)

This entry was posted on Thursday, May 29th, 2008 at 1:12 pm and is filed under markets. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.