October 21, 2008

Market Review and Commentary for October 21, 2008

DISCLAIMER: These are trades I am doing and may not be right for
you. Use your own Due Diligence when making financial decisions of
your own choosing. This is NOT a recommendation of any security.
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As I mentioned yesterday the market didn’t look good from a technical perspective – I was right and it went down 231 pts today.

There is hope for a continuation of the rally that started Monday though if it can stay above the trend lines that it broke out of yesterday.

The key is going to be volume. If we get a big up day on high volume, we should be all set for a large multi-week rally. If mutual funds and professionals start selling again because of customer redemption’s we’ll be back in bear mode…

My video tonight will tell you how to judge the market and what to expect if certain events take place tomorrow:

WATCH TODAY’S VIDEO

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