After Wall Street has experienced the worst October ever due to the current financial crisis, is it time now for a rebound? The index gained 889 points yesterday on speculation of a rate cut from US, Europe and Japan. But would it be just a jab in the arm for a short term boost?
The overarching sentiment is still negative, with many companies yet to report their full year results. Technically, the volume is still not healthy enough to prop the momentum and any advance would probably be short lived. For those who are investing, swing or intra-day trading would be a good strategy. After all, it's safer to cash in profits than spend sleepless nights chasing the stock prices.
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