Tuesday, March 3, 2009

Its Not Inflation, Its Not Deflation, Its EMOTION

This market is all about emotion. I have looked at chart after chart that do not even show the 200 day moving average on the scale that I am looking at---that is how far these things have dropped. There is and will be no sense in these markets until we can rally and hold it. The futures are up right now--about an hour prior to the opening. If we don't hold the rally today then we will go down sharply again. Could we touch 3500 on the dow this year. Yes we could!

I will have more later today. I am literally sitting on the sidelines waiting. I have said over and over that the worst think you can see in the markets is a slow decline throughout the day. That is what we saw yesterday.
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