The market opened higher on the back of strong closes in Europe, where shares closed the highest since May. China´s positive economic news as well as fears of a military action in Syria receded played a role in today´s rally. The NDX closed 0.62% posting a six-day positive close. In our view the market is severely overpriced but the upwards movement has been relentless. Tonight, President Obama will address the nation on Syria thus we will remain attentive as any sign of an attack on Syria will be followed by sharp market corrections. We prefer short position on spikes.
Today´s Profit USD 595 (Portfolio Size: USD 25,000)
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- What’s President Obama’s Next Move on Syria? – Bloomberg (bloomberg.com)
- The Wrong Way to Think About Syria – Bloomberg (bloomberg.com)