Tuesday, January 13, 2009

Rally Expected; Jan. 13, 2009

The market has been under severe pressure the past week or so, so it's likely a rally will occur. We might be due for a wave 2 that will take the S&P into the 900 area again, but well short of 943. This is all just a guess though and not a prediction. Any significant rally will just be looked at as an opportunity to add to my short positions.

The trend is down, and the low of 740 should be broken in due time.

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