Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Thursday, February 21, 2008

update Philly Fed



That philly Fed number should crush us... I'm not clear on the details... but
So we bounced under the trend line, now it's providing resistance.... I also point out the Blue trend line which is a slight adjustment.

The other thing to do is to look at leadership from the semiconductor index or from the financials..
even before the philly fed number the SKF was more bullish than the indexes showing weakness in the financials.

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