The market has run too fast too far. I think there will be some sort of correction before option expiration day.
Look for the following to correct themselves:
Oil - XOM etc
Commodities sector
IBM, AAPL, etc.
Japan - EWJ
Gold & Silver
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2 comments:
I agree that correction looks imminent. Do you feel that UNG (natural gas) will also correct? It still seems to be making a base. Thanks!
May not be a market-wide correction .. but rather a option driven one. The models are silent on UNG today but I actually think it looks good on the long side ...
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