Oil finished today at $131.04pb. Up $2.16pb on the session.
Gold finished at $963.70po. Up $5.70po today.
Dow closed at 11,467.34. Down 28.99 points.
Today it looked like the Little Red Financial Fire Engine that could, just could not any longer.
It would be very hard for me to believe that the dead cat bounce could only bounce this high. I was truly hoping for a little higher before we cam tumbling down again. If Apple and American Express might have shown decent earnings and or guidance, we might not be facing a difficult open tomorrow. But they did, so we are.
That is not to say that this Bear Market Bull Run is over. I still believe we could go higher then tomorrows opening activity. Be patient. There still might be room on the top to grab a better short position depending on how we close tomorrow.
Oil is on the move though. And that might help to kill the party before we get to 12100 or even 11700. Thanks to Iran and the hurricane Dolly, the "black gold" is starting to head North once again.
While searching for profits...........I found a little bit of CNBC humor. Don't just laugh at corporate earnings, check this video out! Behind the scenes look at CNBC.
Good Fortune from Trade-Equity!!!
Monday, July 21, 2008
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