Well, ah
I dunno know. Maybe, because C is less than BAC in price; maybe, because KO, MWD are getting close; maybe, because WCOM and GLW are trying to break nasty 60 minute lines; maybe, because SUNW did what I've been wondering why others don't do and break the back of the shorts by announcing a big share buy back; maybe, because QQQ could run to $55 and maybe even $58.87; and even maybe because TM committed. <gg>
Most of all, maybe, because I sold QQQ at $59.70 on 2/15, and they've taken one hell of a hit since then and are due at least a DCB. Then, maybe, it's not a diamond pattern on the INDU weekly chart, and just a big pennant from your 10,300 to the down trend line around 11,000. Maybe, because, unknown to me at the time, the Fed came into play on Friday, breaking a developing tradition.
Nonetheless, the down trend lines are obvious on all the charts, and, until they get broken to the upside, it can only be a trading rally in a bear market. That's the way I'll treat it!
Should be back in the warmth of the swamp the middle of next week. Until then, Just a View from the Frigid region. I'll be 90% cash before I leave on Monday.
TB |
