When the [tag]stock market[/tag] started rocketing last Monday, I was very suspicious about it. I truly wished the [tag]market[/tag] would turn already, finish its bottoming and start moving up, even slowly, carefully, but with confidence. Then I have realized that all this move is based on a fake power. The news that the Government is going to bail-out CitiGroup by pouring 20-something billions of inflationary [tag]dollars[/tag] into another [tag]company[/tag], which doesn’t deserve it at all, Obama’s picks of people in his future administration and some others, are just promises and wishful thoughts, which won’t do anything good to the market in a long run. I would like to be wrong however. The truth is that the stock market is [tag]oversold[/tag] and it needs some impulse to boost its growth. Maybe these “news” will help it grow. We may see what would happen in the stock market next week. All the rise could be a pre-holiday rush, which will fade next week.

However when you take a look at the chart we can see a turnover, which was missing last time. The OVB indicator turned sharply up and the Dow index raised 4th day in a row. However the only negative point is declining low volume.

I am changing the market status to “Rally Attempt” even though the low volume and the sources of this attempt are weak and may cause another failure next week.

Tip: There is still nothing to do than waiting. This attempt may fail as a few attempts ago. Use this time for studying the market and stocks, save money, do not open any new positions, create [tag]emergency account[/tag] if you still do not have it, build a [tag]watch list[/tag] and wait for the market to tell you when it is the best time to start [tag]buying stocks[/tag] again.

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The stock market sank by 445 points again. Leading [tag]stocks[/tag] such as AFAM headed south pulled by the market without mercy and became a proof that [tag]trading[/tag] against the market is [tag]fools’ play[/tag]. Do not buy any new positions and wait for the market.
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This is the post from Hello Suckers

The [tag]stock market[/tag] suffered another huge [tag]sell-off[/tag] today. Volume was light, however Dow ended below psychological level of 8000 points and erased all gains since April 2003. The path to lower levels is now open. Tomorrow we may expect some recovery, but it seems like we are heading more south.

If you are thinking, that this would be the best time to [tag]start buying[/tag] [tag]cheap stocks[/tag], I would warn you. We still didn’t reach the bottom or at least we do not know whether we did or not. All major [tag]stocks declined[/tag] today even though it seemed that they couldn’t go lower anymore. They could and they would go as bad news would reach this [tag]volatile market[/tag].

Tip: There is nothing more to do than waiting. If you are good in [tag]shorting stocks[/tag] (I do not short yet due to lack of experience), you can consider shorting stocks. Otherwise the best we can do now is to [tag]save more money[/tag] to be ready for next rally, study [tag]stocks[/tag] and market, create [tag]emergency account[/tag] if you still do not have it, do not open any new positions, build a [tag]watch list[/tag] and wait for the market to tell when it is the best time to start [tag]buying stocks[/tag].

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