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Feb 25, 2008 - Issue #099



Patience!



Patience!

We are, in my judgement, in the midst of a consolidation phase of a bear market. The question is to which direction will this consolation phase resolve.

There is a lot of shifting among the Dow components taking place. Reminds of the Oscar's; the nominees are known and we're waiting to see to whom the 'Oscar' goes.

Right now, traders are uncertain. The longer it takes to resolve, the greater will be the next swing.

For determining trend, pay particular attention when a stock makes a new high or low over the most recent three months. Rely on weekly charts for timing.

Many believe patience is a virtue but, in the market, patience is a weapon. Never forget that.

Dow score card for the week ending 2/22/08.

DJ-30: 12381.02 +32.81 +0.27%. The Real World DJ-30: 50.69 +0.13 +0.27%.

UP: 16, Down: 14.

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

Rising (Generally Higher Highs/Higher Lows) 6 (+3) 20%:

AA, +*CAT, +*CVX, +*HPQ, +*IBM, +*XOM.

Consolidating (Generally Lower Highs/Higher Lows) 17 (-7) 80%:

+*AIG, AXP, -*BA, DD, -*DIS, +*HD, INTC, JNJ, +*JPM, KO, MCD, MMM, MRK, PFE, PG, UTX, WMT.

Declining (Generally Lower Highs/Lower Lows) 7 (+4) 23%:

-*BAC, -*C, -*GE, -*GM, -*MSFT, -*T, -*VZ.

+/- 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!

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