Interesting...markets are holding up much better that expected. Initial weakness was overcome and the major markets are unchanged to slightly positive now.
I would not be a buyer here. Market uncertainty is on the rise and implied volatility for options has been increasing despite the advance in price.
Even is Swine Flu does not turn into a global Pandemic the market will need time to ascertain this fact. As such upside should be rather limited while at the same time the potential for a downside move increases.
Stay tuned,
Steve Benger
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