Wednesday, December 3, 2008

12.03.08 - Consolidating Gains

A bug has me in bed and posting/trading lightly. It looks as if price action is consolidating the morning move higher. Perhaps we can get a second leg up in the afternoon session. As you may have followed on twitter, I faded the first move higher (personal accounts only).

I also think it bullish that Financials (XLF) are keeping pace with Consumer Discretionarys (XLY) actually leading, perhaps on lower oil once again (gasoline is at three year lows gang!).

10:40AM PST - Failing... Again, I'd really like to see us hold SPX 840.

Submitted by my brother - cute video on the evolution of Fiat Money, requisite "new world order" overtones included. Warning - carve out an hour to watch.

11:00AM PST - Hmmm... broke 840 but losses shallowing... take a look at yesterday's pm action again before hitting the pedal to the metal. Update: Posted this awhile ago on twitter... hope you got my meaning - back up we go.

Never Investment Advice

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