Wednesday, November 14, 2007

So lemme get this straight

5 days ago the s0-called experts were saying the end of the world was here. Stocks were plunging, oil was almost $100 and recession was on the way. Then a miracle happened. WalMart said all is well. And Nasdaq is up 3.5%. Sorry but things don't turn around like that. Here's a hint so-called experts: Walmart sells cheap stuff. When people have less money they seek stores that sell cheap stuff. WalMart doing well is a contrarian indicator. The more people shop at WM, the worse the economy is getting.

The trend is down. In 2000 and 2001 there were lots of up 2% or 3% up days. We all know how that all ended up. This is a head fake. If you got 'em sell 'em.

Personally I will keep buying on the dips and selling on days like today.

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