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Wednesday, December 17, 2008

We Got That Major Accumulation Day


In Drift Higher Into Year End I wrote into the comments on the chart: "A major accumulation days is required for this 'rally' to be anything more than just a 'bounce'."

That occurred yesterday after the Fed decision.

Today the markets held up well despite some nasty news. Expect another quiet day tomorrow as these recent gains are digested... and looke for a sneaky, low volume blast higher on Friday into the weekend.

9 comments:

Brant said...

Safer place for us few choices money market 401K/IRAers? Would FDIC insured IRA CDs at a healthy local (county only) 3 branch bank do the trick? Kind of cover all bases, get things local, out of the high flying huge corporate world, and be FDIC insured? Could this also be a way everyone could protest the huge corporate banks? I was also thinking that some of these strong local banks could pick up the pieces of all the rest in the future? Just wonderings.

Using my old 401Ks/IRA money market funds (that aren't insured and getting 0.75% 7 day yield last month, before the Fed rate cut), I figure I could "give" my local bank $125K+ for some IRA CDs.

By the way, I'll now be watching this economic morass from the unemployment line. Got laid off prob. for someone cheaper last week. Fort. I'm geo. close to family and reasonable cheap cost of living. All cars paid for, no card debt and wife has good secure teaching job. My plan: I think I'm going into teaching (like my wife). She's in elem. sp. ed. GA here you can get provisional certified and then take classes at GA state to get certs and then more classes/exams for advancements. She likes spec. ed and it seems spec. ed is the easiest/first ladder rung for further moves.

Anyway, I'm Brant still from east of Atlanta, GA

Anonymous said...

Spy may have 9% upside, NDX about 3% probably about 7 trading days left in this little pump and dump then this sucker is coming down like a ton of crap.

Anonymous said...

Glad to see you back on incisive mkt commentary, hope you didn't get too hurt on the HF names you dipped into back in Oct. Still haven't made up my mind about deflation vs inflation, veer more to latter. Lots of resistance for S&P in 900 teens area, pre xmas bounce poss but with complete lack of liquidity thinking big down moves in Jan (USTs and eq, not credit). Cheers, JL

Sir Max Higgins said...

Bank of America and Mr. Higgins missing $millions, it can happen to you my, fellows Americans


More info at: http://maxhiggins.com/blog/

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