Tuesday, August 2, 2011

testing the market

Good morning.  Although I bought a little today and yesterday, I am NOT convinced that the market is ready to go up.  I am testing the market with these small purchases, but not very confident.  In fact, I'm only buying because of most other people’s assumption that we are close to a bottom.

Today is kind of important as it is testing a low that it made a few days ago, so if it can hold that low … it is a good sign and if it doesn’t hold it … we will probably another few percent to test the low of June.  So today is important.  BUT … all my analysis shows that we have NOT hit a bottom as of yet and we have to go down more still.  How much further is a good question.

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