Monday, November 26, 2007

Confusion Everywhere...

A guy on MarketWatch had a couple of articles posted on the same day... One cited insider trading where there was significantly less selling (i.e. holding). Then another article mentioned the Dow Theory where a historical technical bull market seems to be ahead of us.

The market signs point to a definite TREND down, with many bounces obviously ahead. Lower highs, Lower lows.

Oil, Credit, Housing slowdown (i.e. Foreclosures, jobless related claims, etc) seemingly are working together to bring this market into recession mode. The bears seem to have taken over China...

That being the case i'm not playing with fools gold. I feel i've already missed the bounce not having bought on Wednesday (i didn't wake up b4 the market closed) A few put positions are in place.

Selective leaders are there for the bounce: FSLR (esp w/oil going up), AAPL (<150 was the buy), RIMM (<100), PBR (brasilian oil co. that found more oil).

Gio (@intuitivetraders) has graphs i especially missed:
-DRYS (even i mentioned it)

time to grab a bite...

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