Update: OpEx plus long weekend to burn your options....Im staying out....
European indexes mostly gap up big.... Due to the fear factor, you must be wondering how to play this rebound....?
My advice is to go in with only a small position for a start and get out when you see the slightest sign of pull back. You could possibly get a second opportunity to buy on dips.
As a kind reminder, Monday is a holiday and there are some earnings reports on Tuesday...so we might get a pullback before any rally.
Today, everybody has their eye fixed on BAC earnings report. Better sooner than later to clear the way for any potential rally.
My trading strategy is to not hold any positions overnight.
Due to more earnings report coming out in the coming weeks, I am not keeping any biases. I think the market can go in any direction from here and possibly put in a bottom somewhere between Feb and March.
My watchlist:
XOM, CVX, GS, IWM, FSLR, SPWRA, JEC
Friday, January 16, 2009
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