Let The “Dead Cat Bounce” Begin
A two day dead cat bounce should begin later today or definitely by tomorrow’s open. I look for a rally across the board and would expect to see about a thousand points on the Nasdaq 100 to around 15000. What happens from there depends upon what the FED does or doesn’t do and the markets response. I want to see the technicals at that time to see if a crash follows or a tradeable bottom develops.
Cover the shorts then ?
What about PMs ….Tough call…I know…but they are stocks afterall
Gold the metal is flat to up
Been buying them today. The precious metals stocks are about to become the market LEADERS.You will see fantastic bounces in almost everything but the miners will become the new leaders.
Market action looks like a combo between panicked longs and sure thing shorts.
Excellent call Chartmaster!!
Thank you, Sir.