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Monday 01/07/08 LAST CHANCE ON MENTORING PROGRAM at 02:46 PM EST
The price of the one-on-one mentoring sessions will be going up after today to $899. Last chance to get in que at the current price of $699 for the coming month.
Henry Ford- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - A BOUNCE? at 01:02 PM EST
So far so good, but it is VERY early in the game. The SP500 is up almost 12 points which should be good for DOW 120 but it is trailing at around 75 points.
What this means is that we have gone a long way towards the gap left by Friday's trading, but until we solidly breach that gap and confirm higher we run the risk of that being a turning point for further declines. It will be a week to ten days before we know we are out of the woods.
The point on the SPY to watch is the 144 level on the proxy for the SP500. Till then, keep your powder dry and let the big kidz play in the mud.
Henry Ford- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Sunday 01/06/08 SUNDAY AFTERNOON UPDATE FOR WEEK OF 1/7 at 06:52 PM EST
Last week brought us down to one of those short term decision points as we face an ominous Head & Shoulders pattern that all the pundits are watching which could spell some dramatic downside. On the other hand, we are right at a level which, if we see a rebound, would form the basis for a symmetrical triangle.
I have indicated both scenarios on the chart below.
 REMEMBER in December when I worried about those daily closing gaps on the SP500 and QQQs?
I reminded you that gaps are like magnets and are normally filled (closed) with in 3 weeks 93% of the time.
GUESS what?....They were filled.
NOW se have gaps to the downside in the major tracking stocks and futures. Odds favor these to be closed shortly too, so we pay sharp attention over the next couple of weeks.
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