Change in the Dow!

The jury is still out. When traders are undecided, markets congest into trading ranges. That's what we are witnessing now.

Looking for buy candidates, I can't find any. Yet it's difficult to find sell candidates also because so many stocks have been sold off so much. What to do???

Do nothing. Keep liquid. When the market is ready to make its move, it will be apparent.

There is a lot to be undecided about: Politics, economy, etc. It will take time to sort it all out.

Remember, cash is a position also.

Dow score card for the week ending 2/15/08.

DJ-30: 12348.21 +166.08 +1.36%. The Real World DJ-30: 50.56 +.90 +1.82%.

UP: 22, Down: 8.

Trends (weekly charts): This is the subjective part.

Rising (Generally Higher Highs/Higher Lows) 3 (+2) 10%:

+*AA, +*BA, DIS.

Consolidating (Generally Lower Highs/Higher Lows) 24 (-4) 80%:

AXP, BAC, C, CAT, CVX, DD, GE, GM, HPQ, IBM, INTC, JNJ, KO, MCD, MMM, MRK, +*MSFT, PFE, PG, T, UTX, VZ, WMT, XOM.

Declining (Generally Lower Highs/Lower Lows) 3 (+2) 10%:

-*AIG, -*HD, -*JPM.

+/- denotes change of direction.

* denotes change of category.