Thursday, July 2, 2009

Speaking of Down 200 Days

Looks like today could be one of those down 200 days I mentioned yesterday! The job numbers were not well received (unemployment was 9.5% in June vs 9.4% in May) and futures, which were already weak, promptly sank.

In theory, you could make money today by buying an inverse ETF, but the market will gap down on the opening, so you might buy the ETFs at or near the lows of the day. What to do?

There is a bright spot in this however. Some stocks which have run up will now pull back a bit. Fot instance, Intel broke out of a trading range yesterday on good volume. I am considering buying it on a dip.

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