Tuesday, July 19, 2011
Budget / Debt Ceiling Grand Bargain Would Be Extremely Bullish
My Long Term Portfolio
Today Market rallied on the back of short covering of future contracts of indices after Obama's press conference in which he gave hope to a budget / debt ceiling grand bargain. If a deal is reached (when pigs fly imo), Market would rally to at least SPX 1420-1430 within the next couple of weeks. If a deal is not reached by end of this week and European financial crisis isn't resolved either, selling would continue to at least SPX 1250. I'm still holding short positions and planning to add more if SPX goes below 1300.
Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice.
on 9:54:00 PM