Monday, November 16, 2009
Talk about accomodating, hopefully the skyrocketing markets are helping to put feet in sheets at our locals resorts as we all have friends who make a living from the tourist market.
Well, Bernanke tried to act tough, but the markets aren’t listening. The dollar continues to fall (after a VERY brief rally) while he spoke. Basically the tone is the same – accomodating policy – weak dollar ensues.
The $SPX broke through (before he spoke) the previous resistance level of 1100 and looks like it has a good chance of closing above it.
The bull market continues, commodities, retail, technology and even financial got a boost today, BUT what is your RISK TO REWARD if you are just entering now? Make sure YOU have a solid trading plan that fits your timeline for your trading strategies.
Happy Trading and be Environmentally Cool
