Volatility Continues, Where Are We Headed?
Big news, markets were up 4% today. Big market swings continued today and look they are here to stay for a while. During today's session the market made three swings of 3% or more. I would still be very cautious in this market. I prefer daytrading this market and refuse to hold positions overnight, too dangerous. The trendline has been very strong resistance and it looks like will butt heads with it again. I hope we get there by Friday as Friday's payroll data could provide the catalyst to breakthrough this trendline.
I still like CVX, ETR, and XOM as I think they are poised for big moves ahead.
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