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Saturday, February 28, 2009
Video - Weekend Market Summary - 2/28/08 - Could Bounce, But It Won't Matter
Here's the video for the upcoming week. We are slightly oversold and sitting at the bottom of a descending channel on the indices, so we could bounce a bit early next week, but if that happens, I really think it will be a gift. I haven't seen much leadership this entire year, and the few areas I did see are now breaking down hard (health care and education). Gold is it right now and that is not good. So I am expecting a move lower, perhaps a sharp one, at some point soon and want to play it from the short side. The video has some short plays to watch for the upcoming week. We'll see what happens - it is still news-driven out there and that will always make things tough - but it certainly looks bad all around. Good luck and be careful.