Market really just keeps running up, but the correction is overdue. So I am taking a double short swingtrade right here at the 1000.00 level. I am looking for a profit of over 25 points on both shorts, if however the market keeps running up I will have to admit I was wrong and take the loss at around 1020.00.
People are forgetting that the unemployment rate keeps going up, banks are increasing their provisions for people and companies who will not be able to pay off their debts if the recession lasts longer than expected.
If I walk the streets today, I have the feeling that people are only beginning to start spending less and not the end of this recession. Good luck trading in these wild markets!
