There is a lot of uncertainty in the markets for tomorrow’s
session. Earnings are still coming out
and Bernanke’s going to speak this week.
The market had a strong rally on Friday so look for a pullback tomorrow
but truth be told, the market could go in any direction this week. I’m going to stay out for the first hour to
let things develop. When the market is
reacting off news its best to stick to fundamentals, play the pullbacks on a
percentage basis and time your entries off Bollinger Bands, moving averages and
stochastics, but make sure you are out of your position before any news announcements.
I’m still looking at Walmart but I’m a bit cautious now that
it’s pushing up to the analyst target of $79.
The value of the company may be priced in at this point in the current
market conditions. On the other hand
Warren Buffet increased his position in Walmart so he may know more than
everyone else.
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