Thursday, January 24, 2008

A LONG TERM INVESTMENT IS A FAILED SHORT TERM INVESTMENT

A long term investment is a short term investment that has failed. Keep that in mind these next few days if you are going long. Be very careful, tomorrow should start off green with all this good news and the futures up tonight but in these volatile markets anything can happen. We didn't get much volume today, an indication that this rally is not very strong. Remember, we are still bearish...Fridays in a bear market are not the best, they have the ability to sell hard in the afternoons, so keep that in mind when you're trading tomorrow. Also, as of today, we have retraced up to 50%...this is a dangerous mark, because those who got hurt are looking to take some shares off the table. I see the markets moving sideways towards Tuesday's Fed meeting; from there we could move sharply up, or sharply down from this 50% retracement.

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Edmonton, Alberta, Canada
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