Today´s Market July 29, 2012

NDX2907

The NDX-100 jumped all the way to 1381 level at the opening followed by a 20 points drop before it started what seemed a steady rebound  only to drop again in the last hour of trading, closing 0.24% negative.  As mentioned on Friday, this week will be very volatile due to important economic releases as GDP en Non Farm Payrolls.  The market is in overbought territory thus we prefer short on pikes. CNBC mentions that  investors are getting a little too comfortable these days with unspectacular earnings and weak economic growth, suggesting to one otherwise-bullish Wall Street analyst  (Tobias Levkovich, chief U.S. equity strategist at Citigroup) that some pain is ahead. We recommend to tighten stop losses as the correction could be fast and violent in nature.

Today´s Profit USD 230   (Portfolio Size: USD 25,000)

Visit Past Trades to review our history.

In August we will start placing our trades real-time on Twitter @NDXTrading

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