11 Points to the Line in the Sand

And there goes *that* rally…It is ironic that for months on end we’ve had a strange situation in which whatever way the market opens it tends to continue that way the entire day. Today was one of the few reversal days.S&P 1111Remember, S&P 1100 is the line in the sand. If that goes in the last hour - happy times are not here again.On the flip side, you have potential actions coming from central banks and governments before Monday morning. Hard to be a bear or a bull right here. However the complete and utter reversal of today’s upward move is indeed dispiriting. It is amazing how you cannot even be on the long side for a trade for more than 5 hours anymore. I’m trying to remember the last time we had a 4 day type rally and it’s escaping me. Maybe August. (edit: looks like mid July from the chart)…
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  3 Octubre, 2008| Fundamental Analysis | @ 11:50

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