Wednesday, November 14, 2007


Market summary in one line : The Bears came back at 3:30pm and shot the Bulls.

Tomorrow is going to be some more pain for the bulls. The bottom is not in yet. All this talk of a Thanksgiving Rally is premature. Alot of traders who are bullish may not afford Turkey come Thanksgiving. Hell they may not even have a roof on their head.

Weakness in the semis are a real problem . Take a look at this chart and see how the SOX is in a downtrend . Until the SOX bottoms and starts making lower lows I don't see this market turning up. Financials and homebuilders are dead money. Semis are weakening. Momentum and tech is being sold. How is the market expected to go up ?

Here enjoy some Britney.

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