Posted Friday, January 11, 2008 @ 12:01 am by Dr. Wish
GMI:0; GMI-R: 0; 6th day of QQQQ down-trend
The GMI and GMI-R remain at zero. Only 63 new highs and 285 new lows in my universe of 4,000 stocks on Friday. Friday was the 6th day in the QQQQ short term down-trend. Cramer thinks we have hit bottom–time will tell. Only 17% of the Nasdaq 100 stocks closed above their 30 day averages. The Worden T2108 indicator is at 36%. I remain mainly in cash.
Post Tags: Cramer, Jim Cramer
Comments ( 1 Comment )
Bill added these pithy words on Fri, 1-11-08 at 7:40 amIMHO – We will not hit bottom till the finance sector hits bottom . I don’t see us anywhere near a bottom , what with i.e. Merrill upping its writedowns , coming next week . More bugs scurrying for the dark may be brought to light , and it won’t be rosy . Abu Dhabi and other enemy investing (Muslim investing) does not instill confidence in me either. Bill
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