From a technical position, we see that the NASDAQ is on the edge of breaking support. This is bad news...if we break 2504, expect the market to drop to 2450. We are in a bearish market which will get even more bearish if the Fed doesn't step in. I am hoping for a short 3-4 day bounce this coming Monday before this market drops. I will have a short position once the market breaks 2504...being long in todays market CAN hurt you. Unfortunately I myself am long on a few stocks, not sure if I'll be able to get out in time.
Saturday, January 5, 2008
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Author
- Richard
- Edmonton, Alberta, Canada
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