Saturday, January 5, 2008

There are no triple bottoms?

We shall soon see as that is what is seriously developing on SPX and DJI. We will find out if they hold em or fold em. However, be ready for what could be setting up for a vicious upside rally. I would love to open down on Monday with a thrust. It will make it easier to play it long. I hate when they gap em up. Are we in a recession? Didn't the brilliant talking heads call "six" of the last "two " recessions? Looks like we may be there this time. The textbook definition says two strait quarters of negative GDP growth puts you in the big R. There is so muck freaking liquidity on this planet-it's got to go somewhere-I say the market is gonna be fine.

QSC- I still love the chart and it looked like it was on its way on Friday until Mr. Market took the punch bowl away.
RIMM- good support at $97 level,lets see if it holds
AAPL- ya gotta love it here-mac world around the corner


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.