While last week was a BEAR party, there are those that think we are heading higher on Monday.
For instance, "Sentiment Trader" put something on their website that lists all the big drops and big gains inthe market over the last century. It goes on to say that after a big drop (Friday was worst in last 2 years?), the market is twice as likely to go up as down.
We'll know by Friday whether the economy is indeed softening like some suspect (AAPL and IBM indicate some softening ahead). There are lots of major earnings reports and economic reports (inflation stuff, etc) that will probably be the catalyst for the market direction.
Paul Litman: "Avoid panic selling & avoid overconfident buying."
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