Thursday, January 17, 2008

US Market Summary 16 Jan 08

Dow 12,466.16 -34.95 -0.28%
Nasdaq 2,394.59 -23.00 -0.95%
S&P 500 1,373.20 -7.75 -0.56%

Although US market close on a negative note, I believe HSI is grossly oversold yesterday. To be down nearly 1500, we should see some rebound today.
Thus, the play for today will be buy on the dips and sell on the rise, this is how it should be done for a volatile market like HSI.
But, all positions should be closed by the end of the day as we still do not have a clear indication of the direction ahead.

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