with Oli | Strategies

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Where and when will the 2nd leg up start?

We had the markets close to capitulation as S&P traded below 1200 and DAX below 6000 …

then a brutal bounce … now the correction of the bounce …

usually we should “enjoy” now soon the 2nd bounce to the upside …

As S&P already retraced more than 60% of its bounce, the Dax stands close to the 50% correction …

Monthend is close … sentiment supernegative again …

so … :) I expect the 2nd leg up soon …

This 2nd leg should show new correction highs … if that runs out …

markets will face a REAL test …

So don’t be surprised to see the market BOUNCE again …

Take care and try not to get hurt …

I play it like this … reducing shorts … locking in profits … and waiting for first buy signals …

If I see them … I will play the bounce :)

BUT wait for the turn … it is about earning money, not being the hero ;)

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This entry was posted on Montag, Juli 28th, 2008 at 20:56 and is filed under FDAX. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Where and when will the 2nd leg up start?”

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    Januar 20th, 2011 at 17:35

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  2. Jed Schaller Says:
    Januar 28th, 2011 at 18:51

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