Major Indexes Short-term Overbought
Just a quick note this afternoon to mention that all of the major indexes are now hitting short-term overbought status. Of course, they could certainly continue higher, but odds are improving now for a possible reversal later this week. It’s also options expiration week, so we might see that reversal as late as Monday.
If you wanted to take a small position here, some long puts or short call spreads on any of the major indexes would be the way to do it.
More on this topic
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Market-cap vs. fundamental indexes
(Canadian Business Blog, 7/22/10)
Empire Manufacturing Index Misses Consensus Of 8.0, Prints At 7.1
(Phil’s Stock World - Members S..., 8/16/10)


Wed, Feb 13, 2008 | Jared
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