quiet friday, page-56

pennies

If US markets do rally from here then certainly April 2009 will be in the same position as Sep 2000 from an Armstrong viewpoint.

2009 looks choppy from a Pres cycle but Dec cycle is good to later in 2009.

All this leads me to believe that we are in a topping period.

I believe that this decline is just the first major wave down and another will happen and that no great advances will be seen before mid next decade.

Expect our market to get out of sync somewhat with the US over the next few years both ways.