Overnight the Dow Jones had put on over 88 points at one point and reportedly took a dive after comments made by Ben Bernanke in regard to the US economy. It closed the day down 19.15 points. It seems our market took the lead and suffered more losses in morning trade. An attempted recovery in early afternoon trade was dismissed into the close which saw the XJO end the day down 0.6% at 29.5 points lower. With the market in the support zone as mentioned recently and now quite oversold we feel the best strategy is to wait for a bounce before pursuing short trades. Patience is probably the most prudent strategy right here. Although we have posted two trades today these should be deemed aggressive entries.

Similar stock trading tips:

1. Wednesday June 1st, 2011