Oct 15, 2007 - Issue #080
Look Out Below!
Look out below. Price up - volume down. Not Good!
If this is a continuation of a bull market, it certainly doesn't look like one. What it
looks like is "toppy". It looks tired.
At least some comments appearing on CNBC have indicated Q3 earnings might disappoint.
What with earnings warnings and Q3 results filtering in through out the rest of the
month, looks like October might be a long month and culminating with the Fed reporting
on Halloween. Now that's scary!
Time to be defensive.
Dow score card for the week ending 10/12/07.
DJ-30: 14093.08 +27.07 +0.19%. The Real World DJ-30: 57.79 +0.11 +.20%.
UP: 15, Down: 13, N/C: 2.
Trends (weekly charts): This is the subjective part.
Rising (Generally Higher Highs/Higher Lows) 16 (-1) 53%:
CAT, DIS, GE, GM, HON, HPQ, IBM, INTC, KO, MCD, MMM, MRK, PG, UTX, VZ, XOM.
Consolidating (Generally Lower Highs/Higher Lows) 11 (+2) 37%:
AA, AXP, BA, DD, -*JNJ, JPM, +*MO, MSFT, PFE, T, WMT.
Declining (Generally Lower Highs/Lower Lows) 3 (-1) 10%:
AIG, C, HD.
+/- denotes change of direction.
* denotes change of category.
Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!