Saturday, August 8, 2009

US market: July rally

After 1 month see-sawing, the market jumped fast and furious - with only 1-or-2 day pullbacks, similar to the Mar rally.

Difficult time for retail investors - with no pullbacks to enter, your options are to close your eyes and buy, or wait for the pullback.

Pullback has occured on the last few days, with all 3 indexes giving a distribution day. Unexpectedly good employment numbers on Fri - market rallied as expected, but the Nasdaq looks a little tired.

Not enough for a change in the trend... the trend is up, look to go long. I still don't believe in the fundamentals of this rally, but need to be on board - no point trying to second guess when it will turn.

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