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Friday, October 2, 2009

Failure Friday/

Thursday the markets tanked pretty hard. The question now is, buy the market for a comeback or sell in preparation for more losses.

Who knows! One thing to keep in mind there is unemployment numbers tomorrow that could rally the markets just as fast as it fell. Also the SPX is approaching the bull trend line, I have to imagine there will be SOME resistance there.

In support of more losses, take a look at the financial sector ETF, XLF. The etf has broken through the bull trend line. But many companies did, such as JPM.

In the long run, I still believe the US stock market WILL GO 50% LOWER. Just maybe not as fast as I thought. :)

Friday will be an interesting day!
From WebSurfinMurf's Financial Blog

From WebSurfinMurf's Financial Blog

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