Abet Chichi2

[DiscoverGold]

Weekly Technical Comments by Art Huprich - Friday Morning 12/05

"Following an intraday decline of 352 points, in a matter of only 60 minutes late in the day yesterday, I was asked numerous times, “What was that all about?” My reply was “more of the same.” Specifically, mutual fund redemptions, flattening out in front of today’s employment number and more and more hedge funds that are not allowing new redemptions, leading to a “sell what I can since ‘they’ won’t give me my money.” Also, the real and psychological ramifications of the decimation of commodity prices aren’t helping. Some commodities fell as much as 7% yesterday. Do I dare ask if anyone has any gains for which some tax selling may be occurring? At the close, the DJIA fell 215 points and the NASDAQ lost 47 points."

For full technical Commentary and Charts:

http://www.rjf.com/technical_commentary.asp

George.

Click on "In reply to", to see any past commentary.