Well, is it or isn’t it?

Posted on Apr 25, 2008 by in Letters

A bull market or a bear market, or what is it? Over the past several weeks the technical picture in the Dow has turned up, and, in fact Schannep with some misgivings has issued a Dow Theory buy signal. A pattern of higher lows and higher highs exists since the March low. Seen here there are a couple of slanted downtrend lines which need to be taken out to confirm a rising market. The rise above what may be a neckline stretching from February can be taken as a buy signal by semi aggressive traders. Frankly we would still be more comfortable with a portfolio with some shorts in it.

This is only a preview. You must be a subscriber to access the full text of this letter.


Choose a Username*
Email *
First Name *
Last Name *
  * Required


You must be a subscriber to view and submit comments on this post.