Tuesday, August 9, 2011

Update

Good rally off the lows with financials leading up 4%,.  Nice bounce in C.  I guess screaming over and over "why is C down 20%!" yesterday was not unfounded.

1150 is proving tough to break, even with gold coming off its highs and treasuries lower on the day.  If we do break 1150, I'm looking at 1170 as another level of resistance. (I kept my levels from yesterday in there)



Sitting on my hands for now, even though I'm kicking myself for not buying C.  There will be many opportunities like this and I keep reminding myself we'll most likely see lower levels.

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