Off the Charts
There was another gap up in the market this morning that was sold off the open. The market pushed lower for the first half of the day, filling the gap, before closing in the middle of the range. The market closed the day positive with the S&P 500 finishing up 0.30%.
A hands-off approach continues to be wise at this stage as the S&P 500 continues to trade in no man's land. Like we talked about yesterday, it's is hard to short at these current levels as the market is oversold but it feels as if lower prices are in store. Right now, traders are taking a more cautious, short-term approach as the risk-reward doesn't justify putting on swing trades yet....713 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.