No Matter What We Hear Tonight - The State Of The Union Is Weak!
The market has not been able to snap back after last week's decline. In prior months, material declines represented buying opportunities and bulls quickly stepped in. This reluctance tells me that the market is tired and sellers are eager to take profits. This morning, overseas markets were weak for the third day in a row. Yesterday, Japan's credit rating was lowered by S&P 500 and that is having a lingering effect. Last week, China demanded that its banks hold off on new loans until February. It is trying to head off an overheated economy. I believe they will be sitting on …
January 27, 2010
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