Monday, November 17, 2008
Some may ask why I have hi-lited the financials once again. Simply put, as the financials go so goes the market. I realise this may or may not hold as much water as it used to but it still applies no matter how you cut it. For all the fanfare the financial media showers on the financials they have gotten weaker not stronger. Do not lose sight of this as it bodes further ill for the market no matter what the perpetual bottom callers may say.
The above 3 charts show a weekly view which should help clear up the picture.
Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".
Short 1 unit Apple ticker AAPL @ $110.90 stop @ $100.53
Short 1 unit Salesforce.com ticker CRM @ $56.05 stop @ $32.56