Short Term Trading

[jwg]

market direction has not changed and is still sideways / down ,
as previously mentioned. Also prior FOMC Sept-20 equities will
continue drifting sideways....

Sideways to down trading can be viewed either from start of
the year 2005 for the NAZ / NDX and INDU , and from mid August
for the main indices VLE / SPX / RUT until today.....

As mentioned before, only a drastic fall in oil prices will most
probably change the direction of the equity market in the U.S.
Drastic fall in oil prices means at least below $ 60.00

And if the Fed would discontinue increasing interest rates
Sept-20, this would be viewed favorably by investors.

Not to forget the present month September, surely the worst
month if you look at the statistics :

http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/september_wsj_cruel_2.gif

http://safehaven.com/images/mchugh/3724_a.png


jwg