Significance of Action Today

Discussion in 'Trading' started by Wiseowltx, Aug 31, 2007.

  1. Both Bush and Ben provided a lot of information...

    Ben said that he knows Mortgage Industry and told Cramer that he gets the CMO mess and he may or may not do anything, depending on how the economy muddles along.

    And Bush said that he would bail out some to blunt political noise from Democrats...

    Nothing changed and the volume was not there, but, I did not expect it to, as it is Friday before a long weekend and end of summer too.

    Big boys come back Tuesday and I expect negative action, as technically, nothing looks very encouraging.

    I would sell Finance Stocks and go long on BRIC stocks that are showing good support like INFY, INP, RIMM and AAPL.

    Also, buy DXD with a stop loss at DJI at 14200.

    What do you think...???
  2. Merrill Lynch's downgrade Thursday of Wal Mart to SELL really caught my eye.