Tuesday, December 4, 2007

Stock Market Update: 12/4/07

Well as I wrote on last Friday The Markets could be down on Mon and Tue, well they are. But What I really wanted was a back end rally on Tue, why we are not rallying in disconcerting. If we dont turn this around then I will have to re-think my stance on the markets. People are just waiting for the British FED and the the JOBS report and the folks trying to make more money on downgrades (shorts), just playin their games, the analysts the SEC has to look into this. People go short in the same shop, then they have their guys downgrade stuff, they make money on the way down and then they buy on the cheap. then upgrade and make more money. This has been going on for years.

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About Me: Disclaimer

$BPCOMP

$BPCOMP
Extremely Oversold

Regarding Chart: BPCOMQ

This is the lowest close seen in years, usually a sharp and violent rally follows these moves enhanced by short covering, this is no time to short and start making a shopping list.

Bear-ly Hangin" In dustrials

Bear-ly Hangin" In dustrials
Dow Graph: 11/20/07
The Dow looks like its fighting for its life here at the level. It's no surprise there was a vicious bounce off the trend line as shown in the chart. Unfortunately, the last time we had that five hundred point reversal day was caused by the Fed stepping in, there has to be a similar event that helps the market or there is more pain ahead. The Fed minutes said nothing the market really liked, we sold off hard and bounced back hard as we hit support. This was just a reflex rally we may have to get one more really painful selloff to get around 12500.