Short Term Bottom Has Been Made By the Market
By the strength of the market as of recent trading actions, I personally believe that the short term bottom has been made. It is time to get back to the market now. I would play market index funds, such as SMH – the semiconductor indexes (the good tech play without the individual stock risk). [[SOXL]] is the triple bull for [[SMH]] if you think tech has a longer bull run in the coming days or weeks.
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Waiting for Market Direction to Change
The market roared back to the upside thanks for the consumer confidence level is back and the kind words on the US economy from FED chairman Ben Bernanke. Although the volume was somewhat lacking, but nevertheless the market had a decent up week for more than 5 weeks now.
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Buying Nasdaq Index Is A Safer Bet
We had a great late day rally yesterday. I want to see if we can have a good follow thru day today or the next next days. In today’s volatile market, index buying is much safer and better bet than individual stocks.
Watch for stocks leaders (AAPL, CREE, NFLX) to perform and heavy volume to upside if the bulls are back.