Remember we have the FED meeting and announcement @2:15 today.
Market is up huge here and that's kind of unusual into a FED meeting. I dont know if they sell it off before or after but I have some thoughts.
I want to make one thing clear, Oil is not the make or break for this market as the pundits have been saying on TV. Oil dropping to $100 or $75 a barrel means nothing we will still go down.
I think upside here is limited to around 1350 on the S&P, which is 75 points above and down side is about 350 points so I rather play it as such.
Tuesday, August 5, 2008
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