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Tuesday, October 6, 2009

Tendline Crazy

I am at a loss for the market direction. After such a huge rally I am still inclined to believe we are in for a major downturn. But so far, there doesn't seem to be a catalyst for that outcome.

So like any trader, you turn to the charts to try to palm read, hoping voodoo will tell you something.

See below me going a little trend line trading, maybe you can see the outcome.

One VERY ominous sign is the market volume is down, but prices are up. That can't last forever.
Slope of Hope has a VERY timely post, a topic I talked to my friend John Chinnock last night about. How far can printing money take us, and what will be the result? Slope's answer is the truth will materialize.

From WebSurfinMurf's Financial Blog

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