Friday, October 02, 2009

Slide Continues

Looks like the month-end and quarter-end rally was a bit overhyped and the tone of the market has changed. There doesn't seem to be much positive economic sentiment out there.

I remain long, but watching positions closely. Maybe the market makes a stand at the 50dma and this is just a pullback.

I think it does appear as if the economy is weakening, though. On the car sales numbers, it is obvious that the cash for clunkers program had a short term effect that accelerated sales, now the numbers will be bad for a while.


Phew. Friday. Time flies when you're drowning in work. Nobody at my job is even taking lunch breaks these days.

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