Thursday, May 10, 2007


A pretty ugly day in the market if you were long. Dow S&P, Nasdaq all down over 1% on heavy volume. Thats the key here volume. And the close was at the lows of the day. Could 'Sell in May' be the order of things. If I recall last year, we sold of a day or two after the FOMC announcement and the sell off continued till July. Added to the equity markets, gold and silver got killed today. Its starting to look like the precious metals may be topping out.

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