Well we got our decline, and more than I had expected or I would have sold out last week... With last week down more than a percent and first trading day down at the moment, the expectation for tomorrow is for up about a half a percent. Since this is mostly based on quantifying monday as the first trading day of the week, I am a bit unsure of if it is applicable, but I don't get enough data otherwise. If we go up into positive territory (which I doubt right now) this scenario falls, but we get a chance to unload. So I'll wait and see for now. Time is 13.27 CET.
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Index futures (OMX, Sweden)
- Thread starter Modest
- Start date
I don't know if the market is getting to me, but I was wrong in saying that the positive scenario falls if we get an up close. On the contrary since it would mean a test of bottom early in the week. It would make even more sense if we got it and people "wise" from what happened in the same situation a couple of days ago, then late in the week, step out. Then we can get the rally I am waiting for.
Close of 1040, (High 1044.5, Low1034.25) and down 3.5 points for the day, which is my loss since I did no trades today. Indications are for an upside potential tomorrow though. Surprised that we didn't follow the US to the upside and the sell off late in the day from 1042 to 1039 before settling at 1040 tells me that others were too. My take is that these same people will need to buy it back tomorrow morning, which is why I am still long.
The US markets continued up to the tune of 1 percent more after our close. Normally, that would mean that we would follow suit, at least as much, and most of it in the morning. But, it seemed yesterday, that there was something wrong with normality, and it will be interesting to see just were we land. With the recent dry spell, we should in any case have some positive tone the next few days, and my strategy of buying the pullbacks will be put to the fore. First however, I need to dump my oversized long position at an opportune moment.
Had not expected such a strong pullback, and I just had to go long at 11.38 at 1046.25. No doubt I will be proven to early as usual, but the top was 1052.5 and a pull back of 0.6% in a hour and a half is perhaps not so surprising. Time is now 11.42 CET, and the price has of course fallen to 1045.50. Oops....