In general, I still see pattern of elevated and rising volatility, and my measures of bear mkt action say brother beware.
My GUT says this rally is near an end, but I have slim looks on my SDS chart to buy, I would maybe be looking for $54.50 to be recaptured from my wedgie breakdown which was a GREAT chart because it kept me OUT of SDS during this rally, so I found it helpful to give it several different looks on my charts, the daily caught that one.
Financials have rallied nicely, but I don't buy it, call be sceptical.
One of my measures says rally could end today so I am on HIGH alert, remember LIGHT VOLUME INCREASES ACTION......BIG BOYS come back next week.
Economy SUCKS big time I know it, you know it, so what's with large surprise on GDP? STIM checks? Exports? I smell a rat
D
Friday, August 29, 2008
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