Thursday, February 18, 2010

Market direction still uncertain

I give abt 50/50 odds that this correction is finished. So I do not know if we are still in the correction, in a sideways market, or in a new uptrend.

We have had ~ 10% correction, I was expecting a 10-40% one.

For the US mkt, IBD has not signaled a follow-thru-day, though they note signs of stocks building bases and the market showing strength. Volume still not conclusive. Once they signal a follow thru day, I put it at a 60-70% chance the correction is over.

If I wait until I'm 100% sure, there'll be no money left on the table.

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