Taking a look at the QQQQ, DIA and the SPY I
would be very careful about being short right here. Each seems poised to
make a break to the upside. Will this be the start of a new bull
market? I doubt it very much. Can it be a devastating bear
market rally with massive short covering? I believe that it could
be when the care package for Wall Street is completed. The Not So Big
Three got a $25 billion lift. The government has, in all its
wisdom, decided to bail out a private company, Chrysler. Over the
week end I will post commentary and charts on the three ETFs.
Have a good week end all.
Just one man's opinion.
Ira