Trucharts.com Blog Update - AM - 10/16/2014
We think the markets will stabilize here since the volatility (VIX) is very high and we have to wait for the earnings season to be over. Nov should be a good month - and typically markets do well into the holiday season. We will monitor the markets and see which positions look good to enter.
Markets are bouncing back from Fed comments and we will see some bottoming type patterns here in the markets. There is short covering going on and oil looks like it may have bottomed. We are going long USO and staying with our GM and Biotech short. Watch oil here and some oil stocks.
UNH looks like a short term long trade.
Trucharts Team
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