Hello Friends,
Quick Update...Dont have time to post charts but I think we are setting up for a small bounce upward...Atleast a small bounce...We will reevaluate later....For now I think 5040-5100 area we will get sometime next week...Rolling over longs to June and adding some more to the very small position I had before..Please note market still very weak but ALSO very oversold...To expect a bounce is reasonable...But this is a risky play...I am hedged with puts.
4800 area should hold - Very Important!
CURRENT POSN: LONG NF 4831. (My avg price for June - I have a loss of around 40 pts for May..Just for the record)
Best.
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