Sunday, February 3, 2008

Market Wrap- 2008 Week 5

THE TAPE:
DOW +536 (+4.39%)
S&P +65 (4.86%)
NASDAQ +87 (+3.74%)
RUSSELL +42 (6.07%)

THE STORY:
This week was a seemingly futile buying frenzy in this author's opinion. Now, I could be DEAD wrong, but according to statistical analysis on Kohler's blog, we are in for a little bit more selling. I will let his blog tell the potential story this week.


Gold (GDX, GLD) has been holding up nicely. We are still waiting on LM, while MYGN is still in selling range. Take a look at the DOW (and other general markets) for resistance potential.

2 comments:

Benjamin said...

You can delete this after it serves it's purpose. "We are STILL waiting on LM...." Otherwise, I must say, decent drunk post, man. Well done!

Colabella said...

The funny thing is that I apparently went to the trouble of opening TOS and emailing myself the $INDU chart, downloading it to paint, adding text and lines, saving, creating, and publishing the chart, while trying to come up with something meaningful to say; and until I got the email notifying me of your comment, I didn't know that this post existed.