Larry Levin
07-11-2007, 07:52 AM
Dear Fellow Trader,
Well no question about it. The market took it on the chin yesterday. All this news about more subprime mortgages.
Most likely the market over-reacted a bit. As we dropped quite a bit without really getting any bad news from our good friend Ben Bernanke.
But it's the amount of the correction yesterday that should be a concern. That was a pretty big drop on news we have already had for quite a while.
We will have to see what earnings does for us the rest of the week. But it's very possible today's trade could set the tone for the rest of the week.
Today's Trading Tip:
"Never Under Estimate the Market Moving Power of the Fed!!!"
CLICK HERE TO LEARN MORE ABOUT LARRY LEVIN (http://www.secretsoftraders.com)
Well no question about it. The market took it on the chin yesterday. All this news about more subprime mortgages.
Most likely the market over-reacted a bit. As we dropped quite a bit without really getting any bad news from our good friend Ben Bernanke.
But it's the amount of the correction yesterday that should be a concern. That was a pretty big drop on news we have already had for quite a while.
We will have to see what earnings does for us the rest of the week. But it's very possible today's trade could set the tone for the rest of the week.
Today's Trading Tip:
"Never Under Estimate the Market Moving Power of the Fed!!!"
CLICK HERE TO LEARN MORE ABOUT LARRY LEVIN (http://www.secretsoftraders.com)