NOON LOOK
The markets continue to trade at the lows of the day and our pal at realmoney.com, Jim Cramer, seems as gloomy as ever. Hey Jim, What happened to the new Bull Market?
The 200 day SMA continues to be a battleground and every time the market goes to it - it bounces right back- temporarily.
As I said this morning, I am sitting this action out as I wait for either stabilization, to buy a big whoosh down, or short on a nice bounce above the 200 SMA.
The market internals are still ugly at 2,800 more losers than winners and the brokers/ techs continue to trade poorly. I was hoping for a turnaround in the brokers but so far its not happening. GS, our guys favorite broker, has gone straight down from 170 to the 145 area and that was because it was cheap at 170. And when do I get my $600 on GOOG.
posted by DAVID at
12:14 PM
2 Comments:
I for one am deuced glad that Lord Jim is gloomy. He's been- with a few brief gloom fits interspersed- Happy Jack all the way down. I really don't like trading on the same side as that dude.
Nope- agree- He is a momentum guy who tells us he likes to buy weakness and sell strength-
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