Well here it is Sunday evening and the week is starting out with the Nikkei down about 175. It will be interesting to see what happens in Europe later. At the moment it appears that all the major markets are turning down again without any of them able to rally to a higher high. The 50 DMA has turned down in every market and has crossed under the 200 DMA in the HSI and the Nasdaq. If this trend continues it will be the third decline for every market except the Nikkei and Hang Seng. Maybe three will be a charm for us bears

Gary

I note the SPX has closed below its 50 DMA today.

Gary, will you make it continue down through the 200 DMA as well?

Smitty,
Well... that is my intention, but you never know I may change my mind

Gary

The Nikkei is opening down about 170 points this morning if this trend holds thats a loss of about 700 points in 4 days. I notice oil spiked today. I was wondering why the oil stocks didn't seem to want to correct along with oil the last couple of weeks. On a similar note the gold and silver stocks don't seem to want to follow gold down either. Nem was up and PAAS just nudged past the May high and the 200 DMA. Now it would be nice if Nem would get back above the 200 DMA.

Gary

I want everybody to know that I had nothing to do with the 70 point rally in 15 min. at exactly 2:00 pm today. Hmm... seems like if I remember right we had another large rally at exactly 2:00 pm several weeks back. I wonder what's so bullish about 2 pm?

Gary

Gary,
I was me. I have to pick up my kids at camp at 3 so I had to put the orders in around 2. I'd use limit orders but the commission's higher. You'd think I'd get a break with that kind of size, but no go - it's not like I'm the government.
h

The futures are looking very weak tonight and the Nikkei is down over 100. Maybe, just maybe, if we can get past 2:00 pm we could close with the Dow and S&P below the 200 DMA. Howard I think all of us would appreciate it if you would just pick up the kids and forget about placing any buy orders tomorrow

Gary

Well in the last half hour the Nikkei has lost another 100+ points (almost 2%). Every single market in the Pacific is down about 1% or more. Tommorrow could be interesting.

Maybe the market fairy will bring us Bears a present tonight.

Gary

Hey Smitty,
I managed to push the S&P below the 200 today for you

Gary

Penetrating below the 200 DMA on Friday!

I think you got everybody's attention with that move, Gary!

Gary,
Just wondering, are you taking the day off today or will you be working on the crash?
h

Good Morning Howard,
I want to assure everyone that I am hard at work on the crash. I thought I had it in the bag yesterday what with Ebay not performing as expected. Somehow it went from down 5 in the premarket to up about .70 by the end of the day. Of course you know with all the poor economic data, oil moving higher and company after company missing, its getting harder and harder to fight the bullish fervor . We'll see what happens today Amzn is down about 3 in premarket, I may have another opening. You could make my job a little easier if you don't place any orders before you pickup the kids.

Gary

Well what do you know, no miraculous saves of Amazon or Coke today and Ebay was back down over $2.30. Whoever dumped all that money into Ebay yesterday lost a bunch of it, at least for today anyway

Gary

COT Report stays short (thanks for keeping those Commercials in line!) and the market closes down again for the weekend.

Wow.

When you open the Gary Index Fund sign me up!

No point in fighting the driving force behind the markets! ;}