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Pastimes : The Philosophical Porch

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From: Rarebird	1/12/2010 8:16:25 AM
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Transcendental Market Truths (Fragments): The Market: Yesterday, the market was characterized by marginal strength in the blue chips while there was weakness in the leaders. This consolidation should be followed by another rally which could last for a week. GOOG: Money flow shows that even more money has come back into the stock. Whether they're right or not is not obvious. Sentiment: Sentiment remains a problem for the market. Is the crowd right? Well, in the middle of the trend, they are right. It didn't matter that the prior bull market was driven by a real estate bubble, it still produced a bull market. So, while the pump is being primed by the politicians, the money flows like water. Never mind that the debt being created will never, ever be paid back. That's not anything to worry about today unless you are a conservative investor like myself. Dow Industrials: The smart money is certainly not as bullish today as it had been before. Crude Oil: Oil continues at its rebound high, to be followed by a plunge well below its prior low of 30.81 made over one year ago. Expect it to fall to the 10 range as oil is displaced from the fuel market by alternative energies. 88.235 is the 50% retracement.

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