Confirmed Rally
The Dow surged 2.2% on Thursday on higher volume, which confirmed a new market rally using IBD’s parameters. IBD has three stocks black-boxed for Monday (MA, MCRS, URBN). The major indexes all appear to be forming double bottom patterns as well, which is a very bullish sign.
But that doesn’t mean you should rush […]
One of the big news items in todays massive down day was the huge decline in commodities, especially gold and oil. I have been posting charts of GLD the last couple of nights, mentioning that there was increased selling and profit taking, perhaps even a top forming. Perhaps I should have shorted it instead of […]
The market is responding well to positive news, like better than expected earnings by Goldman Sachs and Lehman Brothers, and the interest rate cut today. All major indexes made huge gains in response to these news items, which is a good sign. But this market is so volatile right now. It’s tough to hold on […]
