I am not convinced that the move of the past two days represents the beginning of a new big rally in the market that will take it through its May highs and beyond. I know its tough to doubt the market after it has a big up day and everyone gets excited, but I have not seen the things that typically come at the end of a correction.
Stock Market News and Analysis
I just did this podcast with Olivier Tischendorf of www.tischendorf.com/. Olivier is an independent trader based in Germany who has been trading the financial markets since 1999, using technical analysis and trading rules. In this interview we talked about his trading style and some of the sectors and stocks he is watching now.
Jim Rogers gives a Lecture at Baliol College, Oxford.
"The National Security Agency has acknowledged in a new classified briefing that it does not need court authorization to listen to domestic phone calls."
We have seen many troubling things occur in this country in the past dozen or so years. But we are now reaching a true tipping point. If we do not say no to this then who knows where all of this will end go over the next few decades.
Yesterday I made the comment that I thought if the stock market were to bounce again off of its 50-day moving average(it fell down to it again Tuesday) that the market would likely take weeks to put in a bottom, however if it fell through that support level the correction would likely speed up and come to an end next week.
Yesterday the stock market dumped. This morning the Japanese stock market is down 6%. We are in a market correction. They happen. Last month people thought the stock market was going to go up forever. Now they are starting to get worried.
Rallies come and go and so do corrections. Corrections cause people to lose money. People are right to want to use them as buying opportunities, but they don't know how to do it.
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