Thursday, February 24, 2011
Is the Market Ready to Resume it's Bullish Ways?
Equity market closed mostly down today, but finished the the day with a strong push. Have the past few days been strictly a result of global political turmoil, or was that just an excuse for a market correction? It appears to have been some of both. Investors could not look past the trouble in Libya, like they did Egypt. The situation in Libya is terrible, but it presented investors with an opportunity to harvest some profits from the run up in equity markets over the past 6 months. A month from now will these negative sessions be viewed as entirely news driven, or will this be considered a standard market correction that was sparked by the news? The most likely scenario will be markets continuing to grow like they have so far in 2011 with a few of these news driven corrections. This market will continue to go higher and tomorrow should be a great buying opportunity for those who need to boost their equity position.