Securities Research Services

Tuesday, April 10, 2007

Buying Opportunity Likely this Week

Asian stocks are pulling back today and the US indices and most stocks are in overbought territory. It is likely that we will see a pullback today.

However, put buyers continue to bet on a large slide here as they poured money into downside bets at more than a 2-1 ratio in both the S&P (OEX) and Nasdaq 100 (NDX) pits. This means that any dips here should quickly find support and that they should be used as buying opportunities, not as reasons to panic and bail on long positions.

2 comments:

wez said...

though overbought, the market needs some time to turn arround. today, the us indizes should be floating not very far above last close. regard.

wez said...

entered dow with 12558 and expect 12600 as target. regard.