Posted by windyjazz on 30th of Oct 2013 at 12:43 pm
The 50 MA was lost not by a little but alot. That usually gets a
sell response. My non technical thought is that the market is being
a little defensive here. There is very little possibility that the
FED would even think about tapering here but that possibility is
not zero after all the market was not expecting the last no taper.
So why not take some profits and sit back if they do what you
expect just buy back at a slightly lower price. Anyway my 2
cents.
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Posted by windyjazz on 30th of Oct 2013 at 12:43 pm
The 50 MA was lost not by a little but alot. That usually gets a sell response. My non technical thought is that the market is being a little defensive here. There is very little possibility that the FED would even think about tapering here but that possibility is not zero after all the market was not expecting the last no taper. So why not take some profits and sit back if they do what you expect just buy back at a slightly lower price. Anyway my 2 cents.