Monday, October 6, 2008


There was nothing nice about todays market except for the rebound near the close.

All the indicators are oversold enough for a bounce or more crashing. This makes prediction about as good as flipping a coin.

My gut reaction is that Monday Oct 6 was some kind of a significant low and that we could bounce Tuesday.

It is possible that on Tuesday we may start off going a bit lower intraday, but a number of my near term price targets have been met and a bounce could occur if there is no negative news overnight. The charts below are what an unstable market looks like, IRA investors should remain on the sidelines.

Click to enlarge.

Click to enlarge.

New low swamped everything else in what looks more and more like climatic behavior.
Click to enlarge.

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