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Post# of 79026
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CaribbeanJim

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CaribbeanJim

Re: euterpe1 post# 43270

Monday, 08/06/2007 6:27:45 PM

Monday, August 06, 2007 6:27:45 PM

Post# of 79026
We had solid volume by the bulls today on both the Nasdaq and SP500. Both indexes are above the 200dema so it will be interesting if today was a one day wonder or a bottom. Typically volatile moves like this will close back above the 10dema or 20dema and then have a one day close below the previous bottom.

About the only Profunds play that I see that is in a confirmed LT downtrend is REITs. RUT still needs a little more downside to go before I would qualify it as in a bear market. Last week did some significant damage though, which has increased that probability greatly.


Jan 4 - We have transitioned into a bear market. Completely different rules apply.
May 23 - IMO, any price at/above this close makes a great Nasdaq/SP500 short.

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