Tuesday, February 22, 2011

comments and 02-23 outlook

Given the extent of the selling today something of a bounce tomorrow would not be surprising. There are indicators (IE TRIN) that suggest we are not oversold yet though.   If we have an actual change in trend though you probably want to exercise extreme care betting against the trend (going long).

The short cycles may show up, but if as I expect the longer cycles have kicked in to the downside then any effect will be fleeting.  And the short cycles do suggest the possibility of a bounce tomorrow.  See for yourself:

Gl traders.  Tread carefully and do your own analysis.

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