Monday, October 13, 2008

Was the market strong or not?

More stuff I'm just saying:
  1. A lot of the market scored what looks to be morning star candle patterns (assuming no sell off from now 2:25 to the close).
  2. Volume is pacing the quiet week before last week's crash.
  3. Leaders are the dead cats from the bear market
Draw your own conclusions.

As I wrote in the column, I would rather own the stocks that resisted the decline than the ones that got crushed. If I were a day trader, I would have gone long the disasters Friday (like GM, WB). As an investor, well, it was in the column.

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