Intra day prediction of US stock market Nov 1,2007

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Prediction of Intra day behaviou of US stock market today Nov 1,2007

 

Market likely to  be volatile with rise in afternoon  after a (steep) intra day dip/correction approx between 11.30am -12.30 pm. An intra day  "V or "J" formation in charts of Dow 30 is likely. Market may give up any gains in last 60-70 minutes of trade and hence protect profits on long positions

 

" Strategy 1: Buy one lot of dow futures in morning on weak or neagtive opening and another lot if market corrects before 1 pm. Intra day high likely to be reached between 2- 3pm

 

" Strategy 2: Wait for significant correction during the day to buy dow futures

 

Stratgey 3: Go short (sell) on before 11 am (before any corection) and then use strategy 2

 

Stocks likely to do well: Caterpillar,IBM,Walmart

 

Disclaimer: All risks to be borne  by trader/ investor etc. Stock specific predictions carry higher risk. The above prediction does not apply to Nasdaq today