Thursday, March 8, 2007

Another day market showed weakness at close

Markets:

  1. Market was up 1% most of the day, but closed up 0.6%, again showed less bullishness at the close.
  2. Tomorrow we have lot of economy data, and it can push it higher or lower decisively.
  3. I think it's going lower to finish the correction next few weeks.
  4. But if it's going higher decisively, it can prove the sharp drop last week is just a one day wonder, which I doubt it.
  5. I didn't do anything recently and just sit and wait. I'm in the camp think this market is going lower, much lower in 2007.
  6. But I need market to confirm what I believe, recently I got a little bit ahead of myself, it's really risky being too comfortable with my positions.

PM shares:

  1. Two days in a row, gold index ^GDM were sharply higher during the day, and closed much lower at close.
  2. It shows even weaker showing than general market, that's one the of reason I don't trust this rally after correction, seems like anytime it can turn lower. But this is the sector I watch.

Uranium:

  1. URZ, FRG and EMU all recovered most of the recent loss, beats all sectors and stocks I watched.
  2. I like them in the long run, but again think they will turn much lower if market turns. Keep watching.

RIMM showed nothing significant today, continue to turn lower in one hour and shoot up in another, pretty much track the market.

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