Once again the market sold off sharply soon after the opening only to rebound the rest of the session closing in positive territory. Lately, many analysts are predicting a strong correction but it has not materialized yet,. As mentioned yesterday, we need a strong selloff accompanied by a closing near the lows of the session. Mark Faber mentioned on CNBC earlier today that he expects a 20% or larger correction. Such a downfall seems a bit exaggerated to us, but a 5% to 7% is feasible. On the energy front WTI Oil fell sharply today even though it managed to recoup some losses closing at 103.74.
Today´s Profit USD 175 (Portfolio Size: USD 25,000)
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