The Final Countdown
- Posted by Frank Zorrilla
- on October 15th, 2013
It is obvious by the price action that the market believes that all will be well and Obama and congress will come to an agreement, THAT IS WHAT THE MARKET IS SAYING. Every overnight dip has been a good opportunity to buy based on the way we have rebounded from overnight sell-offs (you can’t call something a good buying opportunity until after the fact).
With the deadline 2 days away I’m expecting more whipsaw action and will look to play the pattern that is working now–which is buy the dip and Chinese Stocks.
The Chinese stocks continue to see positive speculative action, many big moves out of what many consider Chinese Junk Stocks like $HPJ. In the Chinese front we have on the watch-list; $AMCF $CISG $DATE $QIHU $GAME $CLNT $EJ $XUE $GURE $CHC $CREG.
These are what I consider very tight set ups that will trigger if they break yesterday’s high. On a regular trading day I would indiscriminately take every trigger because you just don’t know which one will be the big winner, you might have an idea but in the end you don’t know.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker. More »
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