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Pastimes : The Philosophical Porch

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From: Rarebird8/1/2008 9:10:44 AM
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Transcendental Market Fragments:

Dow Industrials:

I expect to see money flow diverging positively at the time the base-building process is complete. But where are the buyers? I need to see institutional buyers come back into the Market in volume before I turn bullish.

Utilities:

The Dow Jones Utilities could be poised for a launch either up or down. It could be a contracting triangle or a head and shoulders pattern. Watch this index carefully; for what's good for the Utilities has always been good for the whole market, at least that's been the case historically.

Bottom Line:

The S&P showed its hand yesterday. Gold looks ready to plunge a couple hundred dollars this month.

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