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Friday, January 4, 2008
Bears!
The chartists I subscribe to uniformly agree that the market has departed from a long term bullish trend, and is now in a neutral with bearish tendency mode. This is a radical technical change, indicating we are in a correction which will someday find its bottom. Investors would be wise to make at least half of their positions bearish in nature, or else to stay away from equities completely. Increasing percentage of portfolio held in cash is a very good idea, to be able to take advantage of the bottoms to come, along the way and at the equities 'clearance sale' megabottom.
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1 comment:
Keep an eye on companies reporting earnings this month: If earnings are strong, and the market doesn't care and continues down, this will confirm we're headed down.
If the Fed's rate drop and good earnings change investors' mood, perhaps we will have a temporary upswing. At least that's what we can pray for!
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