- 12
- Nov
This Stock Market Hours Report is brought to you by Jason Ng, Founder, Master ‘O’ Equity
The Dow took a hit in the face last week, correcting to the 50WMA level. Asian markets are lower across the board right now on subprime concerns. It does seem like the real effects of the subprime fallout are just beginning to show up. This is definitely not the time to participate in the market as more volatility is expected in the market this week with a ton of heavy weight releases (economic calendar) as well as the November options expiration this Friday. How about going short? I wouldn’t bet on that either… it is not easy to pin point the beginning of a real bear trend… short term corrections like this one usually rebounds so strongly that most short sellers will eventually lose money.
The market outlook continue to be extremely uncertain and the Star Trading System has faithfully kept us out of trading so far. Today, it seems like there are no qualified trades too. This is going to be a week full of heavy weight economic releases as well as options expiration this Friday which means more volatility… hang on for the ride.
Thought For The Day : “Every Morning Marks A Brand New Beginning”
