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rally has second leg?
Old 07-22-2008, 02:34 PM   #1
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rally has second leg?

today market is interesting. we are going to have a few weeks good time ahead? I only have 5% cash left, all bot some oil stock today.
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Old 07-22-2008, 02:40 PM   #2
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I'm not much of a technician or chart watcher, but for those who are, the Russell 2000 has formed a classic double bottom.

But since I don't trade based on the chart, all I have is a murky crystal ball.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 07-22-2008, 02:41 PM   #3
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Surprise! A solid break through overhead resistance at S&P 1260 on decent volume. It may be because oil continues to drop. Who know? These things usually defy reason.

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Old 07-22-2008, 02:43 PM   #4
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Old 07-22-2008, 02:44 PM   #5
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Gee!! I didn't see that. It should make checking my portfolio fun, when I get around to it later on this afternoon.

Like Ziggy, I don't plan to buy right now because, well, because it's not in my PLAN...
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
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Old 07-22-2008, 02:45 PM   #6
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Nearly forget all that fancy tech jargons, but still the rally like a classic bear market rally. Long term, spx is going to 1100 to 1150 at least.
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Old 07-22-2008, 03:16 PM   #7
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I was just barely able to rebalance my energy allocation with +20% gains relative to the portfolio on 6/30. I'm already half way to -20% relative gains and buying more of the energy fund. It adds a little fun to a down market and gives me something to do while "holding".
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