thirsty thursday, page-120

its just so hard to pick a trend aas different to a manipulated abberation during options expiry week. And add in the effect of a rash of dilutionary rights issues for xjo that drew it down neatly (too neatly?) into support. Then theres data due out tonight and tomorrow night in usa, which will be spun and hyped in the usual tabloid TV fashion even before its released. All i know is - the market arrived at a point of 'natural' resistance (a previous high) in an overextended position after the third biggest, fastest rally in history, at a time when economic data continues to show economic decline, when respected analysts are suggesting a long protracted recovery over the next decade or so... so I'm thinking anything less that a retracement to fib congestion levels is bound to be suspect, and even then I'll be cautious given the history of previous financial crises of this magnitude. So, I'm sitting in cash and waiting for the market to come to me.