Wednesday, February 28, 2007

Good to see the markets are flying. This allows me to sell some of my longs and short some more RIMM and AAPL among others. Good to see BWLD is up after a serious decline this morning . There is some serious big money buying in NYX per this WSJ money flow indicator . I'm loading up here on SNDK and MU because I believe the chip sector is bottoming and will lead the way once we recover, in 3 to 6 months or so. I do think the market will recover over the coming weeks but, I also believe yesterdays drop was a warning that this bull market is coming to an end. Serious declines like the one we had yesterday usually signal a change in trend and since the preceding trend was bullish I do believe the coming month will be bearish.

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