Unfortunately, I got spooked out of my last trade too soon, but I'd rather keep risk low with the kind of volatility we've had the last few months. We bounced right off a technical top to the recent trading range today (S&P 1218), and if we don't break through it tomorrow or Friday, we'll probably head lower. This is always subject to announcements out of Europe promising to promise to fix their mess. Also, earnings season is upon us, so positive forecasts for the economy in forward looking statements also creates upside risk; I have a feeling its already baked in, though.
Downside risks (other than the technicals) include worse than expected earnings, a Slovak surprise, more evidence that Euro banks will resist recapitalization, no movement on Italy's part, a no-plan (or a b.s. plan) by the Oct. 23 scheduled date for a "plan," etc., etc.
Long story short, I'm still looking and waiting for a good spot to get in, long or short...we'll see how things play out.
Downside risks (other than the technicals) include worse than expected earnings, a Slovak surprise, more evidence that Euro banks will resist recapitalization, no movement on Italy's part, a no-plan (or a b.s. plan) by the Oct. 23 scheduled date for a "plan," etc., etc.
Long story short, I'm still looking and waiting for a good spot to get in, long or short...we'll see how things play out.
No comments:
Post a Comment