http://mises.org/story/3117
What I think about the market:
Friday was an extremely OMINOUS reversal. The market has lost all faith in our government to fix anything.
Barring some magic bullet next week, I expect more of the same.
Feel the irony of the Economic Rescue Act precipitating a truly historic selloff!
So to sum up:
SPY TRENDS:
MONTHLY: DISTRIBUTION
WEEKLY: DISTRIBUTION
DAILY: DISTRIBUTION
HOURLY: DISTRIBUTION
What this means is all you "LONG TERM INVESTORS" with your tattered copies of "Stocks for the Long Run" are either going to get some common sense and take some form of defensive action in your portfolios, or you are basically going to get what's coming to you!!!!!
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