we are certainly getting some mixed signals from the markets so we may be closer to the bottom. The DOW has still been unable to break above a sloping resistance line and has fallen back well below it last night. A final blowout over a couple of nights down to the mid 11000's for the DOW would be nice to blow out the rest of the cobwebs.
another thing.... part of the problem has been price of oil. whilst the market has been trashed oil producers have done well. POO is doing nothing out of the box atm but I notice WPL and OSH are having good days today. What's that all about ?? does someone know something ?? I want in !! Are we about to see another spurt up in oil prices ?? Is this all part of a grand plan by the hedge funds ?? IE short the DOW on the back of bad financial reports then help it lower by driving oil up ??
i think I will wait a little longer.
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