Market Should Hold Up

The market is quite oversold and sentiment has been pretty negative for the past couple of weeks. Barring a worsening of the crisis in Europe I believe the downside will be contained in the near term. Dips, including this mornings, could probably be bought for quick flips. Monday's lows, around 1150 on the S&P 500 should serve as support.It looks like we are right there in the pre-market.

2 comments:

Random Thoughts said...

yea i just bought some. that probably means we will plunge through support.

PJ said...

Safer to wait for support around SPX 500. I'm pretty sure it will bounce from there.