Stock Market
All comments and Stock Market Ananlysis are made by Guy Brumley. Guy has been trading the Stock Market daily since 1992.
Trading, evaluating stock prices and predictions
Stock Market Commentary 9-17-2009
The market has been up in eight of the last nine sessions. It is approaching the 9800 high of the trading range that I am using.
Reviewing the charts, a breakout of the 9800 high brings the next chart limit at 10300. Before we break, this we will have the psychological limit at 10000.
I took profits Wednesday on MT, and am still holding the CEDC.
There must be a boatload of puts expiring Friday, which means a lot of the insurance buying was for naught.
There is still a lot of fear in buying stocks. The report from mutual funds is the money coming in is being directed into bond funds over equity funds at a 10:1 ratio.
All the improving reports indicate this economic crash is slowing to a stop. The next dose of reality will be how tight the job market will be, and who will fund our next decade.
China?
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