AI
Tuesday, October 10, 2006 8:46:27 AM
There's no way a major bull market is going to start with the BP chart sitting at 80. NO way. With 24 of the 30 stocks trading on PnF buy signals, that marks a top, not the base for a new major bull market. There's more upside to go potentially, but these things need a selloff to get the market to really setup for a big move. I'm convinced that the current move is nothing more than new money chasing the market with the 'new record' headlines. No one wants to miss the train. And that's exactly when the market turns.
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