Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 680.59

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Dec 19 4:00 PM EST

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To: GROUND ZERO™ who wrote (5225)	6/5/2010 10:46:48 AM
From: robert b furman	2 Recommendations Read Replies (2) of 220508

Good Morning GZ, There is a lot of news noise out there: Hungary cooked their books - this caused a decline in the Euro - except Hungary doesn't use the Euro? Portugal has reduced their deficit from 9.7 to 7.9 % on public worker wage cuts.That bit of good news never got mentioned. Manufacturing has been STRONGLY UP for a fifth month in a row and is adding jobs - this did not get mentioned. There is an election in about 5 months and te news is showing it. Every body is slinging mud and alarmist are calling the market to zero. No NEW Lows have been made and the NAZ is definitely leading by holding over it 200 SMA. We are getting whipped around like iceskaters on a pond and the big goal is to hang on. All of this whiplash is happening where those that are Technically oriented would say support is coming in - the 200 SMA. For those with cash - this is a buy zone supreme! Take a look: The russell: stockcharts.com Holding nicely over its 200 sma The S&P 500: stockcharts.com Not as strong as it is finding a ceiling over its 200sma S&P mid caps: stockcharts.com Also holding nicely over it 200 sma The NAZ: stockcharts.com No doubt an ugly day but it is still above its previous low of last month. There is some fear selling going on but there also is some rotation into tech and this shjows up in both the NAZ,the Russell and the Midcaps. As long as we have rotation - the bull lives. I'm worried - it is human to worry. GZ,I 've benefitted from you sharing your model's calls for several years now.I'm beginning to note that if your calls get whiplashed - I'm beginning to like that. Your model is so sensitive that it flip flops at major turning points of waves. I believe we are at such a point. It just hard for me to see a viscious decline when the global recovery is being synchronized with huge liquidity and low interest rates and no inflation. As long as China has a billion workers - all of whom want employment and the good things of middle class life,deflation will take from the unions and social governments who have ventured too far down the uncompetitve path of fiat government spending and social welfare rewarding nonproductivity. It will get scrubbed out by those savers and workers who get tired of carrying the load. Many refuse to see it.But it is a force - a good force in my opinion. The UAW wanted job security and pay wages that weren't competitive - it has destroyed the Domestic Car manufacturers and broken the union alike. Global competitive forces are omnipotent! This market, still in my mind, is a huge discount sale. We could see another two days at this bottom but my bet is we're heading up fast and with power, very soon. Look at this spring about to explode up - this is not a time to be selling! stockcharts.com Buy the dip Monday morning - if we get a chance to - could well be a gap up open!! Sell offs on Friday have become the NORM !!! Bob

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