Name:
Location: Southbury, Ct, United States

Monday, October 31, 2005

Relief Rally

The market has added onto Fridays gains with less than an hour to go today. Although I like the fact that we are up, the volume is average to below average which is less than convincing. The fact that this is the last day of the month makes me cautious of the fact that there could be some window dressing, and there is some caution in front of the Fed meeting tomorrow. There have been lots of rallies that start with a dreary day like today, so this is no means a call of a reversal. If the prices of energy continue to subside, this only can be a plus for the economy and therefore the market. I continue to look for technology to exert itself, but it will not be the old tech that leads this rally. Outlook: Gains later in the week after the Fed. Financials, tech, biotech, and healthcare to outperform.

0 Comments:

Post a Comment

<< Home