Looking for Support
29th February 2008
The bad news on the US economy just keeps on out weighing the good news. The market headed south for the weekend, closing in on the January lows just a couple days after failing to break through resistance. Monday could be a pivotal day as we see if the stock markets can find support for the S&P 500 at 1325 and the DJIA at 12,200. Today’s big move could easily lead to some type of bounce, but with the current trend that could be just another opportunity for you to sell or put on some bearish option strategies.
- JD