Monday, October 06, 2008

Vacation Time

Based on the charts I saw yesterday, I can honestly say you can take minimum 4 week vacation and not miss anything on the long side.  I would go as far as to say maybe even as long as 8 (of course spend sometime looking, just in case).  There was not a single stock that I would put on my buy or early entry list this week.  This is the first time this has happened, EVER.  Which also leads me to believe that we are close to at least some kind of bottom, most likely one that will need some back and forth work to calm everything down.  With earnings a week away and elections a month, no one is going to committ.  The last few days are probably selling in anticipation of the short sell rule being lifted, and they'll prob buy the news.  But go back and look at that 1987 crash chart I sent, see that gap down bar just before the big day down...kind of looks like the NAS today.  Fun times folks.
 
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