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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Tuesday, April 8, 2008

Market is like a stool.....

Sorry for not posting lately, but basically it's just been a waiting game. All the bad economic data is "Priced in" (insert coughing sound BS here) and most knowledgheable economists are now stating we are in a recession. Which by the way the average recession last six months and the market barely corrected 20%. Wow from where I stand the farmer is still on the stool milking this cow, but he's missing a leg off his three-legged stool (that would be consumer spending). Anyway there is no real reason to post charts of the same range-bound market we've been in since the first of the year. We are at the top side of the range and the market is getting tired on low volume.

The question is will it retest the lows or blow right through them? I don't know who said it but the quote applies, "there are no such things as triple bottoms or tops"!