The market action has not been so hot while I have been away. It is possible my steps to start defensive action before we left for NZ was not the best idea but it was not the worst either.
In the couple of weeks since I sold a couple of stocks the SPX has not been able to mount much of a comback. The 200 DMA was at 1200 when I began to get defensive, as I write this it is at 1185. While this has not been a big move down I am concerned that the move has been important. As I am using someone else's computer I can't save images to post ( I should also add the spell checker won't work I unless I change pop-up setting which I won't do either), but the chart of the SPX looks to have been very faithful to a downtrend of late and from here the market would need to go up some just to challenge that resistance.
On a postive note, there are countless times in market history where the market has big fast rallies for no reason at all. I think this is about the only thing that could lift the market right here.
Lastly I got an email from Bob over at Bob's Adivce For Stocks who told me that this site was mentioned in Kiplinger's. I haven't seen it yet but that's pretty cool.
Proud Member Of
Random Roger
© 2009 | Gadget Theme Blogger Template
Original WPtheme By Blogger Template | Converted By Gadget Lover
| Distributed by eFree Blogger Help
Original WPtheme By Blogger Template | Converted By Gadget Lover
| Distributed by eFree Blogger Help
2 comments:
I think you have a mistake, the 200DMA for SPX on 10-27-05 my chart shows it at 1199 not 1185!
I worded that sentence poorly. I started taking action at SPX 1200 the SPX was at 1185 when I wrote the post. I was not saying the 200 DMA was at 1185 but it kind of reads that way. Apologies.
Post a Comment