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IBDvalueinvestin (98.47)

Market Rallied 800 Points from June Low "Now What"



June 21, 2012 – Comments (1) | RELATED TICKERS: SPY , DIA , QQQ

I guessed wrong the last 2 1/2 weeks , I thought the market would fall leading to Greeks 2nd election in as many months. But it seems the majority already new the outcome of the 2nd election.

Now what?

The economy of the USA is still trending down and Europe is in a domino of nations reporting they have entered a recession or negative growth.

Going long now after a +800 point rally seems pretty risky as the boat seems too heavy on the one side at this point and water is about to flood it.

I will wait on the sidelines for now and see the direction, if it starts going down I will add shorts.

1 Comments – Post Your Own

#1) On June 21, 2012 at 11:07 PM, awallejr (33.36) wrote:

If it goes down I would advise adding longs not shorts. 

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