Friday, May 18, 2012

Hold off

Market is moving too fast and I am too busy recently. I didn't get chance to update my view when the market is at my first target of 1330.
SPX is approaching my original target around 1290 neighborhood. I expect more battle at 1300. I refine my plan to chase the market if 1300 is confirmed to be a short term bottom, but not to hold the falling knife.
When I say confirmed, I am thinking of a rebound to 1320-1325 area then back down to sub 1300 to make either a double bottom or a higher low.

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